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AZB acts 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.


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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