India Digest: Lemon Tree, Baring PE Asia, Reliance Industries in M&A news

Visual from Lemon Tree Hotels website

In the latest M&A deals, Lemon Tree Hotels Limited has acquired Berggruen Hotels, which owns Keys Hotels, while Reliance Industries has increased its shareholding in SkyTran Inc. Separately, Baring PE Asia has emerged as the sole bidder for the acquisition of a controlling stake in Can Fin Homes.

Lemon Tree buys Berggruen Hotels

Lemon Tree Hotels Limited has acquired Berggruen Hotels, which owns Keys Hotels, it said in an announcement. With the acquisition of Keys Hotels, Lemon Tree has expanded its operating portfolio to 75 hotels with ~7650 rooms across 43 cities.

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