Eden Hotel Lanka PLC (COSE:EDEN.N0000) acquired 56.6% stake in Serendib Hotels PLC (COSE:SHOT.N0000) from Hemas Holdings PLC (COSE:HHL.N0000) for approximately LKR 790 million on December 15, 2020. As per the terms of the transaction, Eden Hotel acquired 42.7 million voting shares at LKR 14.2 per share and 19.3 million non-voting shares at LKR 9.6 per share. Pursuant to the transaction, HHL will continue to hold a few leisure sector assets, which includes its investment in Anantara Peacehaven Tangalle Resort. This transaction will be accretive to Hemas' earnings per share and return on equity going forward said Kasturi Chellaraja Wilson, Group CEO of Hemas Holdings PLC. Asia Securities Advisors (Pvt) Ltd acted as sole advisors to Hemas on this transaction.

Eden Hotel Lanka PLC (COSE:EDEN.N0000) acquired 56.6% stake in Serendib Hotels PLC (COSE:SHOT.N0000) from Hemas Holdings PLC (COSE:HHL.N0000) on December 15, 2020.