India, Aug. 24 -- The Indian Hotels Company Limited (IHCL) on Monday announced that Oriental Hotels Limited (OHL) will be merged with IHCL through a Scheme of Arrangement, subject to statutory approvals and clearances.

Puneet Chhatwal, Managing Director and CEO of IHCL, said the merger is part of the company's Accelerate 2030 strategy, aimed at creating value, simplifying the group's holding structure and unlocking the potential of OHL's portfolio.

"In line with our Accelerate 2030 strategy of creating value, simplifying the group's holding structure and unlocking the full potential of OHL portfolio, including iconic assets like Taj Coromandel, Chennai, Taj Fisherman's Cove Resort & Spa, Chennai and Taj Malabar Resort & Spa, Cochin, the...