APG Strategic Real Estate Pool N.V’s further investment in Lemon Tree group of hotels

J. Sagar Associates (“JSA”) advised APG Strategic Real Estate Pool N.V. (“APG”) and Lemon Tree Hotels Limited (shareholders of Fleur Hotels Private Limited (“Fleur”)) in connection with investment of upto INR 300 Crore by APG against subscription of compulsorily convertible preference shares of Fleur.

Under the first tranche, APG has invested an amount aggregating to INR 175 Crore and the remaining investment of upto INR 125 Crore is proposed to be infused subsequently in multiple tranches.

JSA team comprised Partners – Rupinder Malik and Rajul Bohra and Senior Associate – Mukul Aggarwal