Phoenix bags $325m hotel fund JV opposite Amarchand and MoFo

Friday, 23 July 2010 By Kian Ganz Corporate M&A

Start-up firm Phoenix Legal has secured the instruction for hotel operators Accor and Interglobe, which established a hotel investment fund with Pacifica Partners, which were advised by Amarchand Mangaldas Mumbai and Morrison Foerster in Tokyo.

Phoenix co-founding partner Abhishek Saxena led the $325m fund formation deal for Accor and Interglobe, which is understood to have been one of the largest corporate deals handled by the firm since starting.

Morrison Foerster Tokyo partner Eric J. Piesner advised Pacifica on international law while Amarchand Mangaldas partner Leena Chacko led the Pacifica team on Indian law advice.

The fund is a joint venture where each company holds around one third of equity with the aim to open up seven hotels in India between 2011 and 2013, according to the Economic Times.

Saxena declined to comment.

Comments

Meerkat 24 Jul 2010, 20:39

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LOL! I hate to say it but shortening Morrison Foerstor will get a few laughs every now and then :-)

Anonymous guest 30 Jul 2010, 23:07

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Phoenix is a firm to watch. They have two superb lawyers in Abhishek and Saket...their departure was a great loss to Trilegal. COngrats Phoenix Legal

Anonymous guest 2 Aug 2010, 02:16

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Phoenix mill promotors promoted Galaxy Entertainemnt corporation is engaged in Pan INdia restaurant chain and Gaming zone in mall and private place. Whether Phoenix promotrs and Pantaloon promotors joint venture company Galaxy has any plan to falre up/

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