UVS Hospitality Set to Acquire Majority Stake in Calcio Restaurants, Expanding Premium Hospitality Portfolio

UVS Hospitality And Services Limited (BSE: 531652) has taken a significant step towards expanding its presence in the premium hospitality sector. The company has executed a Term Sheet to acquire a majority stake in Calcio Restaurants Private Limited, a move that promises to diversify UVS Hospitality's portfolio with several well-known premium hospitality brands.

Key Highlights of the Acquisition

• Target Company: Calcio Restaurants Private Limited
• Brands Included: Dragonfly, Shiloh, Not Just Tamasha, Lord of Drinks, Garnet, Club Iguana, and The Flying Saucer (to be renamed Aomi)
• Transaction Status: Term Sheet executed, subject to due diligence and definitive agreements

Transaction Details

According to the disclosure made by UVS Hospitality under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the proposed transaction is contingent upon satisfactory completion of due diligence by both parties. Once finalized, UVS Hospitality will hold a majority stake in Calcio's equity shares.

Strategic Implications

This acquisition marks a significant expansion for UVS Hospitality into the premium restaurant and nightlife segment. The diverse portfolio of brands under Calcio Restaurants includes:

1. Dragonfly
2. Shiloh
3. Not Just Tamasha
4. Lord of Drinks
5. Garnet
6. Club Iguana
7. The Flying Saucer (to be renamed Aomi)

Each of these establishments is known for its unique offerings in the high-end hospitality sector, potentially providing UVS Hospitality with a strong foothold in this lucrative market.

Next Steps

The company has stated that further details of the acquisition will be provided after the share acquisition agreement is executed following the due diligence process. This information will be disclosed as per SEBI circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.

Management Statement

Rashmi Vartak, Managing Director of UVS Hospitality and Services Limited, signed off on the disclosure, underlining the importance of this strategic move for the company.

As the hospitality industry continues to evolve, this acquisition could position UVS Hospitality as a significant player in the premium segment, potentially driving growth and expanding its market presence. Investors and industry observers will be keenly watching the progress of this transaction and its impact on UVS Hospitality's future operations and financial performance.