ECONOMYNEXT – Sri Lanka’s Ceylon Hotels Corporation has acquired control of a company which plans to build and operate a 27.7 million US dollar, 50-room resort on a Maldivian island.
A stock exchange filing said Ceylon Hotels Corporation’s subsidiary, United Hotels Company (Pvt) Ltd, will buy the entire shareholding of Ceylon Hotels Maldives (Pvt) Ltd (CMHL) for 700,000 rupees.
CMHL has got Sri Lankan exchange control approval for an equity investment of 11 million dollars to build a resort in the Maldives, it said.
The total cost of the project is 27.7 million dollars. The balance 16.6 million dollars will be funded through a bank loan, Ceylon Hotels Corporation said. (Colombo/November 16 2015)
Ceylon Hotel Investment (CHI), a firm 50 percent owned by Ceylon Hotels Corporation’s parent company, Ceylon Hotel Holdings (Pvt) Ltd., will make a private placement of 500 million rupees into United Hotels Company (Pvt) Ltd., the stock exchange filing said.
Ceylon Hotels Corporation will be holding 78.40 percent of UHCL after the private placement.
A stock exchange filing said Ceylon Hotels Corporation’s subsidiary, United Hotels Company (Pvt) Ltd, will buy the entire shareholding of Ceylon Hotels Maldives (Pvt) Ltd (CMHL) for 700,000 rupees.
CMHL has got Sri Lankan exchange control approval for an equity investment of 11 million dollars to build a resort in the Maldives, it said.
The total cost of the project is 27.7 million dollars. The balance 16.6 million dollars will be funded through a bank loan, Ceylon Hotels Corporation said. (Colombo/November 16 2015)
Ceylon Hotel Investment (CHI), a firm 50 percent owned by Ceylon Hotels Corporation’s parent company, Ceylon Hotel Holdings (Pvt) Ltd., will make a private placement of 500 million rupees into United Hotels Company (Pvt) Ltd., the stock exchange filing said.
Ceylon Hotels Corporation will be holding 78.40 percent of UHCL after the private placement.
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