The Firm represented The Lighthouse Hotel PLC in the acquisition of the entire issued share capital of Dream Beach Resort (Private) Limited (“Dream Beach Resort”) which owns ‘Hotel J Ambalangoda’, a 21-room hotel, managed by the Jetwing Group. The Jetwing Group holds a 45% stake in The Lighthouse Hotel PLC and Mercantile Investments and Finance PLC holds a 17% stake. The transaction was completed for a total purchase consideration of Sri Lanka Rupees 356 Million. This acquisition marks another addition to the growing portfolio of hotels owned and operated by the Jetwing Group, one of Sri Lanka’s largest and most prominent hotel chains.
Our M&A team was led by Shehara Varia, and assisted by Shakthi Ratnakumaran, Principal Associate and Nuwan Perera, Legal Assistant. While the Real Property team was led by Manjula Ellepola, Head of Real Property Practice and assisted by Apsara Ranatunga, Director.
Further information can be found at: www.cdn.cse.lk and economynext.com.