Chalet Hotels has completed acquisition of ‘Novotel Pune Nagar Road’ Hotel. The company has concluded the transaction with Belaire Hotels (BHPL), owner of ‘Novotel Pune Nagar Road’ Hotel (Novotel Pune) and its affiliate entity Seapearl Hotels (SHPL) for a net consideration of Rs 177 crore.
The above acquisition includes 100% equity shares and 100% of zero coupon fully & compulsorily convertible debentures of BHPL and 100% of the equity shares of Seapearl Hotels (SHPL) and 100% of zero coupon fully and compulsorily convertible debentures for a complete cash consideration.
Chalet Hotels is a luxury serviced apartments and hotels provider in India offers serviced apartments, Bangalore, India.
