Lemon Tree Hotels completes 41.09% equity transfer in Fleur Hotels

Yash Agarwal — Fri, 22 May 2026 15:33:51 +0000

Lemon Tree Hotels has announced the completion of a significant equity transfer involving its material subsidiary, Fleur Hotels Limited (FHL). The transaction, which was finalised on May 22, 2026, saw Coastal Cedar Investments B.V. acquire 41.09% of FHL’s equity share capital, as per the terms outlined in a Share Purchase Agreement (SPA) dated January 9, 2026.

The SPA was executed between Lemon Tree Hotels, APG Strategic Real Estate Pool N.V., Coastal Cedar Investments B.V., and FHL. Despite this substantial acquisition, the equity shareholding percentage of Lemon Tree Hotels in FHL remains unchanged, ensuring that FHL continues to operate as a subsidiary of the company.

This transaction also led to the termination of a previous Subscription and Shareholders’ Agreement from April 25, 2012, which had been amended in 2024 and 2025. The termination was executed in accordance with a Termination Agreement dated April 24, 2026. Additionally, a new Shareholders’ Agreement, dated January 9, 2026, has come into effect among FHL, Lemon Tree Hotels, Coastal Cedar Investments B.V., the promoter Mr. Patanjali Govind Keswani, and Spank Management Services Private Limited.

The completion of this transaction marks a significant development in Lemon Tree Hotels’ strategic operations, as it continues to manage its investments and partnerships effectively.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Patanjali Govind Keswani | Business Upturn

Lemon Tree Hotels completes 41.09% equity transfer in Fleur Hotels