Lemon Tree Hotels has executed Securities Purchase Agreement (SPA) with APG Strategic Real Estate Pool N.V and Fleur Hotels (Fleur) to acquire Compulsorily Convertible Preference Shares (CCPS) of Fleur Hotels from the APG Strategic Real Estate Pool N.V, existing shareholder. In terms of SPA, the company shall complete the acquisition of CCPS within 30 days from the date of execution of SPA.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
