Serenity Lake Leisure Ltd., the new owner of Hunas Falls Hotels Plc, has increased its stake in the company to 81.09%.
This follows the purchase of 0.84 million shares mostly at Rs. 187 each (mandatory offer price) or below.
Among quantities bought were that of Jetwing Group, which held around a 15% stake in Hunas Falls.
On 14 January, Serenity Lake Leisure bought 3.7 million shares or 66.2% from Hayleys Group Carbotels Ltd., and Amaya Leisure for Rs. 696.3 million.
Post-acquisition, a mandatory offer is on.
Serenity Lake Leisure Ltd.,is a special purpose vehicle incorporated as an investment company by TAD Lanka Holdings Ltd. and TAD Lanka Plantations Ltd.
TAD Lanka Holdings is a diversified conglomerate with interests in renewable energy, hospitality, real estate, retail, plantations, tea brokering and tea manufacturing, and IT. Its founders are the entrepreneurial trio of Toshiaki Tanaka, Atheeq Ansar and Dhanuka Samarasinghe.