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Browns Investments acquires Serendib Hotels for Rs. 792 m


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. ....

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