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AZB, ELP, Wadia G act on $24m Novotel Pune, Seapearl sale to Chalet Hotels

Chalet Hotels Limited (Chalet), today signed a Share Purchase Agreement (SPA) for the purchase of Belaire Hotels Private Limited (BHPL), owner of Novotel Pune Nagar Road Hotel and its affiliate entity Seapearl Hotels Private Limited (SHPL) based on an aggregate enterprise value of ~Rs.290 crore.


AZB & Partners advised Belaire Hotels Private Limited and Belaire Group led by a team of partners Sai Krishna Bharathan and Shivani Kabra, and senior associate Vasudha Asher.

Update 6 February 2020: Economic Laws Practice (ELP) advised AAPC India Hotel Management Private Limited and the Accor Group led by a team including partner Sujjain Talwar, associate partner Abhishek Sanyal, and associate: Jishnu Dhar.

Update 4 February 2020: Wadia Ghandy advised Chalet Hotels Limited led by a team including associate Partner Dhruv Khanna Nidhi Jha and associate Aishwarya Zare.


Deal value: Appx. INR 1.68 Billion / Appx. USD 24 Million

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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