Shinsei Bank, Kotak Realty Fund acquire 5.9 % stake in Lemon Tree

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New Delhi, Apr 2 (UNI) Lemon Tree Hotels today said Shinsei Bank Ltd and Kotak Realty Funds have jointly invested 30 million dollars in the company for an equity stake of 5.9 per cent.

''The transaction is via a secondary sale by existing shareholders,'' Lemon Tree said in a statement.

''We see this investment by a leading international investor as confirmation of their confidence in our track record and our objective of establishing Lemon Tree Hotels as India's leading upscale hotel brand in the full-service, moderately priced category by 2010/2011,'' Lemon Tree Chairman and Managing Director Patu Keswani said.

UNI MP AK DB2047

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