The Promoters of UK-based Lebara Group have acquired hotel property in Chennai from RAS Adyar Hotel Limited, which is promoted by former Supreme Court Judge, Justice V. Ramaswami’s family.
The Chennai office of FoxMandal Little advised Lebara Group with a team led by Partner Jeevanandham Rajagopal along with Associate Vidya Sunderam.
RAS Adyar was represented by in-house counsel.
Post construction, the 190 room hotel will be managed as a four star hotel by the Taj Group of hotels under the Gateway brand. The hotel is situated on the Old Mahabalipuram Road, in the south of Chennai.
An executive from a hotel consultancy firm said the deal size is pegged at Rs. 100-110 crore, but the buyers refused to give details, according to ET.
Dealcurry reports, Jones Lang LaSalle Hotels was involved in the contract negotiation and signing of management agreement with the Taj Group on behalf of Lebara Hotels.
Lebara is one of Europe’s leading mobile virtual network operators, providing low-cost international mobile products and services to customers across seven European countries and Australia.