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APG Takes Stake in Indian Hotel Chain

04 May (PLANSPONSOREurope.com) –APG is to invest Rs 650 crore (circa €92.4m) to take a 6% stake in Lemon Tree Hotels.

India’s Economic Times reports the Dutch pension delivery organisation will form Fleur Hotels - a joint venture with the Delhi-based mid-market hotels group to build 35 hotels in the country in four years. 

The paper adds APG, will hold 47% shareholding in the joint venture while Lemon Tree will hold the balance 53%. 

PLANSPONSOREurope Staff
editors@plansponsoreurope.com





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