Lemon Tree Hotels has received approval from board of directors for additional acquisition of upto 9,67,200 Compulsorily Convertible Preference Shares (CCPS) of Fleur Hotels (herein after as ‘Fleur’) from the APG Strategic Real Estate Pool N.V, existing shareholder subject to necessary formalities and execution of documentation in this regard.
The company is presently holding 40.92% of CCPS issued by Fleur. On acquisition of 9,67,200 CCPS, total shareholding of the Company in CCPS will be 58.91%. The Board of Director’s at its meeting held on May 30, 2023 has approved the same.
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.
