Lemon Tree Hotels Ltd updates on acquisition of Aleur Hotels Pvt Ltd

The Board of Directors of Lemon Tree Hotels Limited had approved the transaction for acquisition of upto 22,00,000 Compulsorily Convertible Preference Shares ("CCPS") of Aleur 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. The Company has executed Securities Purchase Agreement("SPA") for acquisition of CCPS with APG Strategic Real Estate Pool N.V and Fleur on 22nd February, 2023. In terms of SPA, the company shall complete the acquisition of CCPS within 30 days from the date of execution of SPA.

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 74.55 as compared to the previous close of Rs. 73.35. The total number of shares traded during the day was 419587 in over 4323 trades.

The stock hit an intraday high of Rs. 75.50 and intraday low of 73.65. The net turnover during the day was Rs. 31217469.00.

Source : Equity Bulls

Keywords

LemonTreeHotels INE970X01018 Acquisition AleurHotels