July 20, 2022, Mumbai/Delhi: Cyril Amarchand Mangaldas advised and assisted Max Estates Limited (Max Estates) on its 100% acquisition of Accord Hotels and Resorts Private Limited (Accord Hotels) which owns the land admeasuring 10 acres (approximately 40468.36 sq. meters) situated at Sector 128, Noida (Land) by way of share purchase. Max Estates is the real estate development arm of the Max Group and Accord Hotels holds title to the prominently located land and this transaction marks the entry of Max Estates in the residential sector.
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the due diligence on Accord Hotels, and structuring, review, finalization, and negotiation of the transaction documents (share purchase agreement and disclosure letter). The transaction team and corporate due diligence team was led by Mukul Sharma, Partner, with support from Gurkaran Arora, Senior Associate, Ashlesha Mittal, Associate and Abhishek Ganguly, Associate.
The Real Estate advisory and due diligence was led by Ashish Jain, Partner, with support from Siddharth Iyer, Associate and Shivam Tiwari, Associate.
The Transaction was signed on 04th June, 2022; and closed on 17th June, 2022.
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