Dubai Ventures buys 5% in Bharat Hotels.

Byline: Sudipto Dey

May 23--NEW DELHI -- Dubai Ventures, the private equity arm of Dubai Investment Group, has picked up 5 percent stake in Delhi-based Bharat Hotels for Rs 160 crore. The deal values the company at Rs 3,200 crore. Post-deal, the promoters' stake- the Suri family and associates -- will come down to 92 percent.

The hospitality chain plans to raise up to Rs 1,000 crore through internal accruals, debt and private equity placements to fund its expansion programme. The expansion involves six properties under construction, while talks are on for se