Mahindra Holidays & Resorts India Ltd (MHRIL) has acquired an additional 3.22 percent stake in Finland-based Holiday Club Resorts Oy (HCR) for 2.16 million euros (over Rs 14.5 crore).
The Mahindra group company, through its step down subsidiary Covington S.a.r.l, has increased stake in Holiday Club Resorts Oy, Finland by acquiring an additional 3.22 per cent stake in the share capital of HCR and consequently, its stake in HCR has gone up to 95.16 percent, MHRIL said in a filing to BSE.
The 3.22 per cent stake has been acquired for a cash consideration of 2.16 million euros, it added.
Holiday Club Resorts Oy is a leading vacation ownership company in Europe with 31 resorts in Finland, Sweden, and Spain, MHRIL said.
Shares of MHRIL today closed at Rs 448.15, up 1.33 per cent on BSE.