British American Tobacco (BAT)-linked shareholders are likely to sell up to 7% of hospitality major ITC Hotels Ltd through a block deal valued at ₹2,998 crore, sources privy to the developments told CNBC-TV18. The floor price for the transaction is set at ₹205.65 per share, reflecting a discount of around 1% to the last close, the sources added.

The selling entities are Tobacco Manufacturers (India) Limited, Myddleton Investment Company Limited and Rothmans International Enterprises Limited. These shareholders together form part of the BAT Group, which currently holds about 15.3% in ITC Hotels.

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The transaction will carry a 60-day lock-in period for the sellers and their affiliates. The proceeds will be us

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