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Sunday Times - Browns Investments acquires Serendib Hotels, expands its leisure sector sundaytimes.lk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sundaytimes.lk Daily Mail and Mail on Sunday newspapers.
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. ....
LOLC Group acquires Hemas Group’s Serendib Hotels 15 December 2020 11:57 am - 0 LOLC Group today acquired the hospitality arm of Hemas Holdings PLC in a deal worth over Rs.600 million. Brokers said Hemas Holdings this morning divested its entire stake of 42.8 million shares of Serendib Hotels PLC, which constitutes to 56.6 percent of the issued shares of the company to LOLC Group. The shares were purchased at Rs.14.20 each. The net asset value of Serendib Hotels PLC as at September 30, 2020 was Rs.18.78. The acquisition will trigger a mandatory offer. Serendib Hotels PLC owns and operates Avani Bentota Resort at Bentota, formerly known as Serendib Hotel. ....