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IHC Obtains Extension for Its Delhi Air Caterin...
IHC Obtains Extension for Its Delhi Air Caterin....
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n \n IHC Obtains Extension for Its Delhi Air Catering Unit\n\n LONDON, April 22 -- India Hospitality Corp. (LSE: IHC, IHC or India \nHospitality) today announced that it has obtained a contract extension for its \nDelhi Air Catering Unit until March 2011. The contract was originally set to \nexpire in March 2009.\n\n The extension enables SkyGourmet to continue its operations in the\nstate-of-the-art facility and grow its business from the existing facility,\nwhich was built in March 2007, without incurring any additional capital\nexpenditures. As a part of the privatization initiative, Delhi International\nAirport is currently being remodeled and expanded by a consortium led by GMR\nGroup, which will position Delhi as the largest airport in India and amongst\nthe biggest in Asia.\n\n \"We are pleased to extend our relationship with Delhi International\nAirport and look forward to its expansion,\" said Chief Executive Officer Ravi\nDeol. \"This extension provides additional cash flow visibility for SkyGourmet\nand demonstrates that SkyGourmet remains the premier air catering service in\nIndia.\"\n\n About India Hospitality Corp.\n India Hospitality Corp. (IHC) is a diversified pan-Indian hospitality and\nleisure company. In July 2007, IHC closed on the acquisition from Navis\nCapital Partners and its Affiliates of India-based Mars Restaurants Private\nLimited, an emerging hotel and restaurant company, and SkyGourmet Catering\nPrivate Limited, an airline catering company with 2,800 employees across its\nfacilities in India.\n\n Deutsche Bank AG is authorised under German Banking Law (competent\nauthority: BaFin - Federal Financial Supervising Authority) and with respect\nto UK commodity derivatives business by the Financial Services Authority; \nregulated by the Financial Services Authority for the conduct of UK business.\nDeutsche Bank is acting exclusively for IHC and no-one else in connection\nwith the acquisition and related transactions and other matters referred to\nin this announcement and will not be responsible to anyone other than IHC for\nproviding the protections afforded to clients of Deutsche Bank AG nor for\nproviding advice in relation to the acquisitions and related transactions or\nany matter referred to in this announcement.\n\n Deutsche Bank is IHC's nominated adviser and broker for the purposes of\nthe AIM R...