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Veritas, ELP, Hariani, Juris Corp on SAMHI's buy of Hyatt Regency Pune [UPDATE-1]

Veritas Legal advised Ascent Hotels, the owners of Hyatt Regency in Pune, on its acquisition by SAMHI Hotels which was advised by Economic Laws Practice (ELP).

Veritas partner Abhijit Joshi and senior associate Tushar Raut acted for Ascent which specialises in the development, acquisition and ownership of branded hotels in India.

Former AZB & Partners lawyer, Shyamalene Siqueira, practising independently since March 2015, also acted as legal adviser to Ascent Hotels alongside Veritas.

ELP Mumbai partners Sujjain Talwar and Darshan Upadhyay, associate partner Aakanksha Joshi and associate manager Amruta Kelkar acted for SAMHI.

Hariani & Co senior associate Abhijeet Sonawane and associate Bhanudey Kanwar acted for minority shareholder Vascon Engineers which sold its stake in Ascent and opted to take debt investment.

Juris Corp partner Veena Sivaramakrishnan, and ELP partner Babu Sivaprakasam, associate partner Deep Roy, associate manager Okram Singha and associates Megha Agarwal and Sharmila Ratnam acted for DBS Bank on financing.

In January SAMHI jointly invested with Marriott International in Marriott’s first integrated property that houses two of its popular brands, according to The Hindu Businessline.

Update: Added Siqueira, ELP, Hariani and JurisCorp as advisers.

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