IBL Ltd (MUSE:IBLL.N0000) made an unconditional offer to acquire remaining 50.72% stake in Lux Island Resorts Ltd (MUSE:NRL.N0000) for MUR 5 billion on February 12, 2018. IBL Ltd will offer MUR 71.5 for each Lux Island Resorts Ltd share. BDO & Co. Financial Advisory Arm acted as financial advisor to IBL Ltd.

IBL Ltd (MUSE:IBLL.N0000) completed the acquisition of an additional 6.91% stake in Lux Island Resorts Ltd (MUSE:NRL.N0000) for approximately MUR 680 million on May 18, 2018. Payment to shareholders will be made on or about June 6, 2018. Following the transaction, IBL Ltd holds 56.2% stake in Lux Island Resorts.