janvier 10 2022
Mayer Brown advises Reliance on acquiring majority stake in New York’s Mandarin Oriental hotel
Mayer Brown represented India-based Reliance Industrial Investments and Holdings Limited of India (Reliance), a wholly-owned subsidiary of Reliance Industries Limited, in the $98.15 million acquisition of Cayman Islands-based Columbus Centre Corporation, which indirectly owns a 73.37 percent stake in New York’s Mandarin Oriental hotel.
In the event the owners of the remaining stake exercise their right to tag-along in the sale, Reliance will acquire the remaining 26.63 percent. The transaction is expected to close during the first quarter of 2022.
The Mayer Brown team included: Corporate & Securities – partners John Boelter and David Carpenter and associates Bruno Paccola and Michael Russo; Tax Transactions & Consulting – partner Michelle Jewett (all New York) and associate Christopher Odell; Employment & Benefits – partner Stephanie Vasconcellos; Litigation & Dispute Resolution – counsel Maritoni Kane (all Chicago); and Real Estate Markets – counsel Tim Choppin (Washington DC).
In the event the owners of the remaining stake exercise their right to tag-along in the sale, Reliance will acquire the remaining 26.63 percent. The transaction is expected to close during the first quarter of 2022.
The Mayer Brown team included: Corporate & Securities – partners John Boelter and David Carpenter and associates Bruno Paccola and Michael Russo; Tax Transactions & Consulting – partner Michelle Jewett (all New York) and associate Christopher Odell; Employment & Benefits – partner Stephanie Vasconcellos; Litigation & Dispute Resolution – counsel Maritoni Kane (all Chicago); and Real Estate Markets – counsel Tim Choppin (Washington DC).
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