Sunday Dec 29, 2024
Sunday Dec 29, 2024
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Kandy Hotels Plc has acquired 16.1% stake in United Hotels Ltd. for Rs. 600 million.
The stake amounts to 48 million shares and the purchase was made at Rs. 12.50 each.
United Hotels is a subsidiary of Ceylon Hotels Corporation. It owns 100% of Ceylon Hotels Maldives Ltd, which owns 100% of Handhuvaru Ocean Holidays Ltd, the Maldivian venture.
