Jaypee Hotels to merge with Jaiprakash Associates: BS

Hospitality major Jaypee Hotels today said it has received approval from its board for the merger of the company with parent firm Jaiprakash Associates.

The company informed in filing to the Bombay Stock Exchange that the broad has approved the amalgamation of Jaypee Hotels with Jaiprakash Associates with effect from April 1, 2008. However, the merger is subject to requisite approvals and sanctions from the court, according to media reports.