Hayleys Completes Hunas Falls sale

Tuesday, 15 January 2019: Hayleys Group sold its shares in Hunas Falls Hotels PLC to Serenity Lake Leisure Ltd. Serenity Lake Leisure is connected to TAD Holdings Ltd, which functions as the local partner of a number of ventures incorporated with Japanese FDIs and handles the administration, management and operations of those businesses that function as sub-brands of one holding company.

Hunas Falls which has 28 Deluxe Rooms, one Cardamom Suite and two Theme Suites, was awarded the Most Romantic Hotel in Sri Lanka at the South Asian Travel Awards 2017.

Prior to the impending deal, Hunas Falls’ share price doubled. It gained to a record high of Rs. 160.10, up by Rs. 28.30 or 21.4% and touched an intra-week highest of Rs. 165. In the previous week it gained by Rs. 51.30 or 64% to close at Rs. 131.80 (highest of Rs. 137.40).

The deal amounting to 3.7238 million shares was done at Rs. 187 per share.

Read the full article¬†on the Daily FT…