Kandy Hotels invests Rs. 600 m for 16% stake in Hotels Corp. subsidiary with Maldives exposure

Friday, 26 May 2017 00:00 - - {{hitsCtrl.values.hits}}

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.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.