Cyril Amarchand Mangaldas acted as the legal counsel for Prestige Estates Projects Limited (Prestige Estates) and Prestige Hospitality Ventures Limited (PHVL) in relation to Canada Pension Plan Investment Board’s (CPP Investments) proposed investment of INR 3,000 crores in PHVL, the hospitality platform of Prestige Estates. Upon consummation of the investment, CPP Investments will acquire approximately 27% of PHVL’s shareholding.
This would mark CPP Investments’ first direct investment in India’s hospitality sector and will support expansion of the hospitality platform.
The transaction team was led by Reeba Chacko, Senior Partner; KZ Kuriyan, Partner; with the support from Akash Jose, Mayank Jain and Isiri SD, Senior Associates; and Anusha Nookala, Associate.
Avaantika Kakkar, Partner (Head – Competition), Dhruv Rajain, Partner; with the support from Rajat Sharma, Principal Associate; and Vanya Agarwal, Senior Associate; advised on the competition aspects of the transaction.
Aditi Aggarwal, Consultant; and Aayush Sinha, Senior Associate – Designate; assisted with aspects relating to hotel operator and lender arrangements.
Janhavi Manohar, Partner; with the support from Surya Rajkumar and Vishesh Jain, Senior Associates; Parameswaran Chidamparam, Monusha Nambiar, and Mohnish Khandale, Associates; assisted with the capital markets aspects of the transaction.
