Reuters / Mumbai March 13, 2010, 11:09 IST
Whitbread, Britain's biggest hotel and coffee shop operator, has bought out its Indian joint venture partner Emaar MGF, the Economic Times reported on Saturday, citing a Whitbread statement.
"Whitbread Plc confirms that Premier Inn has completed the acquisition of the 50.1 percent stake it did not own in the JV with real estate developer Emaar MGF," the paper quoted the statement as saying.
The paper also quoted an unidentified Premier Inn India official as saying the company has trimmed down its investment plans for India.
Emaar MGF is a joint venture between Dubai's Emaar Properties and Indian financier MGF.
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