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India Hospitality buys restaurant and catering businesses
India Hospitality has bought hotel and restaurant company Mars Restaurants and airline caterer SkyGourmet Catering from Navis Capital Partners and affiliates for some £53 million ($110 million).
The deal will create a hospitality group serving the growing Indian travel and leisure markets.
India Hospitality was advised on the transactions by Jeffrey Horwitz, an executive committee member at law firm Proskauer Rose.
“A particular challenge in this multi-jurisdictional transaction was managing the complex reverse acquisitions across disparate locations - sellers in Malaysia and India, buyer in New York and entities in Cayman Islands and Mauritius listed in London,” Horwitz said. “Another key was finding the right local partners who will be actively involved in managing the businesses going forward.”
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