Japan’s Serenity Lake Leisure to buy Hunas Falls

Business

Serenity Lake Leisure Private Limited, a Japanese company, will buy controlling shares of Hunas Falls Hotels PLC amounting to 66.2 per cent.

Hunas Falls Hotels PLC in an announcement to the Colombo Stock Exchange on Friday said that Amaya Leisure PLC and Carbotels Private Limited which own Hunas Falls Hotels have entered into a share purchase agreement with the buyer.

The owners will sell their entire holding which is 15.98 per cent and 50.22 per cent, respectively to Serenity Lake Leisure at Rs. 187 per share.

After this transaction is completed Serenity Lake Leisure will make a mandatory offer to the remaining shareholders of Hunas Falls Hotels. Jetwing has 15 per cent at Hunas Falls which they will also likely sell, Jetwing sources told the Business Times. (DEC)

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