Financial and legal due diligence by HPL Hotels and Resorts (Pte) Ltd. Of Singapore regarding the possible acquisition of the new Marriot Hotel in Weligama has not yet been finalized, East West Properties PLC said in a Stock Exchange filing on Friday
East West which was responding to an April 11 inquiry on this matter said that they will inform the CSE of the outcome of this due diligence once the process is completed.
A stock exchange filing in early March said East West Properties had signed a letter of intent to sell 72% of the shares of Weligama Hotel Properties Ltd. to HPL Hotels and Resorts Pte Ltd Singapore.
Weligama Hotel Properties Ltd built the Marriott Weligama Bay Resort & Spa, situated in Weligama Bay, a popular tourist resort.
The resort is the first in Sri Lanka to be managed and branded by Marriott, the international hotel operator. HPL Hotels & Resorts has also made a proposal to invest in and upgrade the colonial-era Grand Oriental Hotel (GOH) overlooking Colombo port.
East West which was responding to an April 11 inquiry on this matter said that they will inform the CSE of the outcome of this due diligence once the process is completed.
A stock exchange filing in early March said East West Properties had signed a letter of intent to sell 72% of the shares of Weligama Hotel Properties Ltd. to HPL Hotels and Resorts Pte Ltd Singapore.
Weligama Hotel Properties Ltd built the Marriott Weligama Bay Resort & Spa, situated in Weligama Bay, a popular tourist resort.
The resort is the first in Sri Lanka to be managed and branded by Marriott, the international hotel operator. HPL Hotels & Resorts has also made a proposal to invest in and upgrade the colonial-era Grand Oriental Hotel (GOH) overlooking Colombo port.
www.island.lk
No comments:
Post a Comment