Southern Cross Tourist Co. Ltd. agreed to acquire the assets of Blue Horizon Hotel Ltd for approximately MUR 380 million on January 31, 2013. Southern Cross Tourist was selected as preferred bidder for the acquisition. The full consideration will be settled in cash and will be financed mainly through loans. The transaction is subject to conditions precedent. As on June 28, 2013, the shareholders of Southern Cross Tourist approved the transaction. André Bonieux, Basgeet Rajeev and Rajen Poonisamy of PricewaterhouseCoopers LLP, Recovery Services acted as consultants for Blue Horizon Hotel Ltd.

Southern Cross Tourist Co. Ltd. completed the acquisition of the assets of Blue Horizon Hotel Ltd on September 2, 2013. The deed of sale was signed on September 2, 2013.