Shardul Amarchand Mangaldas & Co (SAM & Co) advised Brookfield Asset Management in the proposed acquisition of hotel assets of approximately INR 3,950 crore from Hotel Leelaventures Limited (HLVL).

Brookfield intends to acquire the following from HLVL as a part of the deal – 4 owned hotels located in Bangalore, Chennai, Delhi and Udaipur, all the hospitality and hotel related IP and business operations, including existing and future management contracts, and a wholly owned subsidiary undertaking future hotel development activity. Brookfield also proposes to acquire the Leela brand and associated IP related to the hotel and hospitality business from the Promoters, as a part of the deal.

SAM & Co. acted as legal counsel to Brookfield Asset Management. The transaction team was led by Mr. Jay Gandhi, Partner; and included Ms. Roopal Kulsrestha, Partner; Mr. Arka Banerjee, Partner; Ms. Aditi Tralshawala, Senior Associate; Ms. Puloma Mukherjee, Senior Associate and Ms. Natalee Nanda, Associate.

Other teams involved in the transaction were Ms. Ashoo Gupta, Partner and Mr. Daryush Marfatia, Principal Associate for Real Estate,Ms. Veena Sivaramakrishnan, Partner and Mr. Dhananjai Charan, Associate for Banking and Finance and IBC, Mr. Nitesh Jain, Partnerand Mr. Atul Jain, Associate for Dispute Resolution, Mr. Mukul Baveja, Partner for Intellectual Property and Ms. Pooja Ramchandani, Partner for Labour law.

Brookfield was advised by Cleary Gottlieb Steen & Hamilton LLP on certain IP related aspects and EY and PwC on tax and financial diligence. HLVL and promoters of HLVL were represented by Veritas Legal. JM Financial Asset Reconstruction Company was represented by Khaitan & Co.

The value of the deal is approx. USD 595 Million.