The Firm advised Dedigama Group (Private) Limited on its proposed acquisition of 98.39% of the total issued shares of Kandy Walk Inn Limited, the owner of the hotel known as ‘Cinnamon Citadel Kandy’, from John Keells Hotels PLC, for a total consideration of LKR 2.77 billion.Situated along the scenic Mahaweli River, Cinnamon Citadel Kandy is one of Kandy’s well-known hospitality properties. Following completion of the transaction, the hotel will continue operations under the ‘Cinnamon’ brand for an initial period of 12 months.
This transaction is expected to close on 31st March 2026, subject to the terms of the Share Sale and Purchase Agreement entered into by the parties.
Our M&A team was led by Partners Shehara Varia and Praveeni Algama, along with Zaafir Reyaz, Associate and the Real Property team was led by Manjula Ellepola, Partner, along with Nirmala Peiris, Senior Associate.
CSE announcement: