Indian Hotels Company acquires majority stake in ANK Hotels and Pride Hospitality, with Antares Legal offering legal counsel.
Antares Legal Advises on IHCL's Acquisition of Clarks Hotels' Subsidiaries
The Indian Hotels Company Limited (IHCL) has announced a significant acquisition, with Antares Legal playing a key role in the process. The law firm was tasked with undertaking both corporate and title due diligence, as well as leading the deal structuring, drafting, and negotiating transaction documentation for IHCL.
The acquisition involves the purchase of controlling stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, companies that belong to the Clarks Hotels family. However, the search results do not specify which law firm advised the Clarks Hotels family in this transaction.
IHCL, the parent company of iconic brands like Taj Hotels Resorts and Palaces, is the client for whom Antares Legal provided these services. The acquisition is not specified as being a merger, joint venture, or any other specific type of business combination.
Antares Legal's involvement in the due diligence process ensured a thorough examination of the companies' legal standing, while their expertise in deal structuring and documentation drafting and negotiation will have streamlined the transaction process for IHCL.
This acquisition marks a strategic move for IHCL, expanding their portfolio and strengthening their position in the hospitality industry. The exact terms of the deal have not been disclosed, but the acquisition is expected to be finalised in the coming months.
Stay tuned for more updates on this developing story.
