Eden Hotel buys Dickwella Resorts for Rs. 1.5 b

Tuesday, 5 November 2013 00:02 -     - {{hitsCtrl.values.hits}}

Eden Hotel Lanka PLC has acquired Dickwella Resorts Ltd for Rs. 1.5 billion from its holding company LOLC Leisure. The 76-room Dickwella Resorts and Spa was acquired by LOC Leisure, a joint venture between LOLC (70%) and Browns Investments (30%) in January 2012 for Rs. 1 billion. The resort is bounded by sea on three sides with attractive beach frontage. It has over six acres of land and its property, plant and equipment are unencumbered.