China Travel International Investment Hong Kong Limited (SEHK:308) entered into a conditional sale and purchase agreement to acquire 50% stake in Handhuvaru Ocean Holidays (Pvt) Ltd from Ceylon Hotels Maldives (Private) Limited for $4.5 million on October 12, 2021. The transaction is subject to due diligence and satisfaction of certain conditions precedents including approval by the government of the Maldives of the environmental impact assessment report for the development of Ambara Island.