With latest acquisition will hold 56.67% of voting and 53.48% of non-voting shares
Will add range of luxury properties in both SL and Maldives
Includes lease rights to 3 islands in North Malé, Bodufaru, Kaafu Atol
Browns Investments Chairman Ishara Nanayakkara
LOLC Holdings PLC’s strategic investment arm, Browns Investments PLC (BI), yesterday acquired the controlling stake of 55.65% of Serendib Hotel PLC (Serendib) for a consideration of Rs. 792 million, the
company said in a statement.
With this acquisition, BI will hold 56.67% of voting shares and 53.48% non-voting shares of Serendib. The investment was made by BI’s subsidiary leisure company, Eden Hotel Lanka PLC.