CPP Investments to invest ₹3,000 crore in Prestige Hospitality Ventures; Trilegal, CAM advise

Canada Pension Plan Investment Board (CPP Investments) is set to invest ₹3,000 crore in Prestige Hospitality Ventures Limited, the hospitality platform of Prestige Estates.

Trilegal advised the Canadian Pension Plan Investment Board on this transaction. The Firm advised on corporate, operational and real estate due diligence, CCI filing, and drafting and negotiation of the transaction documents.

The transaction was led by Sai Krishna Bharathan (Partner), with support from Raina Mitra (Senior Associate), Associates Archi Jain and Annika Bohra.

Diligence Teams:

Real Estate team: Monika Bhonsale (Partner), Mridul Kumbalath (Partner), Sadaf Shaikh (Partner), Arnav Nagalia (Partner), Dilnaz Bapasola (Counsel), Sohni Kherada (Counsel), Mohammed Sayed (Counsel), Yunus Nawab (Senior Consultant), Ganesh Memane (Consultant), Mythri Jonnal (Senior Associate), Roshini Bansal (Senior Associate), Associates Siddhartha Fondekar, Shashank D Bharadwaj, Rajat Deepak Kalal, Suhaschandra BS, Aakanksha Dalal, Akanksha Shah, and Parth.

Corporate team: Apeksha Mattoo (Partner), Namesha Singh (Counsel), Maitreya Sharma (Senior Associate), Raina Mitra (Senior Associate), Associates Vrinda Bhola, Vaishnavi Bansal, Sanchit Thapliyal, Rohan Singhal, Rehaan Engineer, Harsh Bhatti, Anjali AR, Arshan Kazi, Archi Jain and Annika Bohra.

Operational team: Apeksha Mattoo (Partner), Kunal Gupta (Partner), Thomas J. Vallianeth (Partner), Shrishma Dandekar (Counsel), Chandan Dhand (Senior Consultant), Shashwat Shrivastava (Consultant), Vaishnavi (Consultant), Pranvi Manglick (Consultant), Anshul Sharma (Senior Associate), Sidharth Ray (Senior Associate), Maitreya Sharma (Senior Associate), Raina Mitra (Senior Associate), Associates Akshobhya Nitin Pol, Anjali AR, Annika Bohra, Archi Jain.

Competition team: Gauri Chhabra (Partner), Eesha Sheth (Senior Associate), Shobhit Shukla (Associate).

SEBI Regulatory team: Pranav Atit (Partner), Janeesha Singh (Senior Associate), Associates Tanvi Godiwala and Ashlesha Pandey.

Cyril Amarchand Mangaldas advised Prestige Estates Projects Limited and Prestige Hospitality Ventures on this transaction.

The transaction team was led by Reeba Chacko (Senior Partner), KZ Kuriyan (Partner), with the support from Akash Jose (Senior Associate), Mayank Jain (Senior Associate), Isiri SD (Senior Associate) and Anusha Nookala (Associate).

Avaantika Kakkar (Partner, Head - Competition), Dhruv Rajain (Partner), with the support from Rajat Sharma (Principal Associate) and Vanya Agarwal (Senior Associate), advised on the competition aspects of the transaction.

Aditi Aggarwal (Consultant) and Aayush Sinha (Senior Associate – Designate) assisted with aspects relating to hotel operator and lender arrangements.

Janhavi Manohar (Partner), with the support from Surya Rajkumar (Senior Associate), Vishesh Jain (Senior Associate), Associates Parameswaran Chidamparam, Monusha Nambiar, and Mohnish Khandale assisted with the capital markets aspects of the transaction.

Upon consummation of the investment, CPP Investments will acquire approximately 27% of PHVL's shareholding.

This would mark CPP Investments’ first direct investment in India’s hospitality sector and will support expansion of the hospitality platform.

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