Lemon Tree Hotels Ltd has announced acquisition of upto 9,67,200 Compulsorily Convertible preference Shares (“CCPS”) of Fleur Hotels Private Limited (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 shares are being acquired @ Rs. 505 per CCPS (basis the valuation report of the Merchant Banker) aggregating to the total consideration of Rs. 48,84,36,000/-.
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%.
This transaction would fall under Related Party Transaction since APG Strategic Real Estate Pool N.V is holding more than 10% shareholding of the Company and as per the definition of Related Party in terms of the listing regulations, APG is the related party of the Company.
Fleur was incorporated in Delhi, India on July 9, 2003 and its main object is to carry on the business of Hotels and to provide and undertake all kinds of related services and activities. History of last 3 years’ turnover (Standalone): INR 374.24 Crore – FY 2023 (Audited), INR 182.57 Crore- FY 2022 (Audited), INR 111.70 Crore- FY 2021 (Audited).
Be First to Comment