To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionWarburg Pincus ends JV with Lemon Tree Hotels for student housing
Warburg Pincus has ended a two-year-old joint venture (JV) with Lemon Tree Hotels for developing student housing and co-living spaces in India, reported Business Standard.
Warburg set up the joint venture with Lemon Tree Hotels in 2018 and planned to invest as much as Rs 3,000 crore ($426 million) to develop accommodation for students and young working professionals.
Warburg held a 68 percent stake in the joint venture, while Lemon Tree owned 30 percent. The remaining 2 percent was held by Lemon Tree’s chairman and managing director Patu Keswani.