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.