Lemon Tree Hotels Denies Talks with Warburg Pincus on Stake Acquisition

Lemon Tree Hotels Ltd said it is not in any negotiations, discussions or agreements with Warburg Pincus for any stake acquisition in the company, responding to a media report.

The company clarified that no proposals have been approved or are under consideration for the acquisition of shares by Warburg Pincus, whether through a strategic investor pool or otherwise. It said the media report suggesting a possible acquisition, open offer or preferential allotment is factually incorrect and misleading.

Lemon Tree Hotels added that while it routinely evaluates strategic and financial opportunities in the ordinary course of business, all such discussions are provisional in nature and subject to approvals and execution of definitive agreements. As of date, no binding agreement has been entered into and no transaction has been approved by its board.

The company said the media report does not have any material impact on its operations, financial position or business prospects and confirmed that it has complied with disclosure requirements under SEBI regulations.