Transfer of Equity Shares of Material Subsidiary Company pursuant to Share Purchase Agreement (SPA) dated January 9, 2026
LEMONTREE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lemon Tree Hotels has completed the sale of a 41.09% stake in its material subsidiary Fleur Hotels Limited (FHL) to investor Coastal Cedar Investments B.V. The transaction, originally agreed under a Share Purchase Agreement dated January 9, 2026, was consummated on May 22, 2026. Despite this transfer, Lemon Tree Hotels' equity shareholding percentage in FHL remains unchanged, and FHL continues to be a subsidiary of the company. The old Shareholders' Agreement dated April 25, 2012 has been terminated, and a new Shareholders' Agreement dated January 9, 2026 has come into effect involving FHL, Lemon Tree, the investor, and the promoter group.
The transaction brings in a new strategic investor (Coastal Cedar Investments) into the subsidiary without diluting Lemon Tree's control. This could be positive for shareholders as it validates the value of FHL and brings additional capital or strategic backing to the subsidiary.