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Khaitan & Co advised the shareholders of Sarovar Hotels – New Vernon Private Equity, Bessemer Venture Partners Trust, Anil Madhok and Ajay Bakaya in relation to the acquisition by Louvre Hotels Group of a significant majority stake in Sarovar Hotels.
Sarovar Hotels runs a hotel chain in India and is the third largest hotel chain with 70 hotels across India and overseas. It also launched domestic brands Sarovar Premiere, Sarovar Portico and Hometel.
Khaitan’s core corporate transaction team included Haigreve Khaitan (partner), Sameer Sah (associate partner), Abhishek Thanvi (senior associate) and Ruchi Sharma (associate) with assistance from Pranay Bagdi (senior associate) and Ayush Nanda (associate) on the corporate aspects; Kumar Saurabh Singh (partner) and Soumava Chatterjee (senior associate) on the banking aspects and Sanjay Sanghvi (partner), Surajkumar Shetty (senior associate) and Ankit Namdeo (associate) on the direct tax aspects.
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