AZB & Partners and Cyril Amarchand Mangaldas (CAM) advise on Warburg Pincus’ investment in Fleur Hotels following Lemon Tree demerger.

As part of a strategic reorganisation, Lemon Tree Hotels Limited has proposed to demerge its hotel assets into Fleur Hotels Limited pursuant to a scheme of arrangement, resulting in the listing of Fleur. In connection with the demerger, Coastal Cedar Investments B.V., an affiliate of Warburg Pincus LLC, will acquire the entire 41.09% equity stake held by APG Strategic Real Estate Pool N.V. in Fleur, along with a fresh primary investment into Fleur.

CAM advised APG Strategic Real Estate Pool N.V. on the sale of its 41.09% stake in Fleur Hotels Limited and related aspects of the transaction.

The team was led by Partner Ruetveij Pandya and Partner Molla Hasan, with support from Principal Associate Abhilasha Malpani and Associates Mansi Avashia, Kajal Singhvi, Sanskruti Kulkarni and Karshin Malik. Competition law aspects were advised by Partners Avaantika Kakkar and Dhruv Rajain, with support from Associate Mohini Parghi.

AZB & Partners advised Warburg Pincus on its investment in Fleur Hotels, involving a secondary acquisition of APG’s stake and a primary infusion into Fleur.

The deal team comprises Senior Partners Anil Kasturi and Niladri Maulik, Partners Anisha Shridhar and Bharat Apte, Senior Associates Rohit Dutta, Purvi Lhila, and Priyasha Goyal, with support from Senior Associate Shubham Toshniwal, Associates Srijan Srivastava, Saksham Shrivastav, Sahil Aggarwal, Shivangi Bhardwaj, Sushil Joon, Gunjan Hariramani, Pratham Mehta, Syed Mohd Waquar, Ishita Agarwal and Yashna Soni. The competition law aspects were handled by Senior Partner Hemangini Dadwal, Senior Associate Deepanshu Poddar and Associate Ileina Srivastav; corporate diligence by Associates Apoorv Pandey, Jahnavi Srivastava and Ishita Agarwal; IP diligence by Senior Partner Akhilesh Kumar Rai, Senior Associate Parth Agrawal, Associates Riya Gupta, Nikhil Verma, Shreya Kulkarni and Jai Joshi; employment diligence by Partner Jatinder Singh Saluja; real estate diligence by our Counsel Priya Parab, Senior Associate Namrata Vora, Associates Anmol Lilani, Chaithanya Ampadi and Pratyush Chaturvedi, and Articled Clerk Disha Sonawane; scheme related aspects by our Partner Himanshoo Tembe, and anti-bribery & anti-corruption aspects by our Senior Associate Anmol Suhane.