The Exchange had sought clarification from Mahindra Holidays & Resorts India with respect to news appearing in The Economic Times on September 21, 2015 titled ‘Mahindra Holidays readies turnaround plan for Finnish buy’. Mahindra Holidays & Resorts India replied stating that the news item referred is mainly pertains to Mahindra Holidays & Resorts India Limited (MHIRL) acquisition of Holiday Club Resorts Oy, Finland (HCR) and infusion of equity in HCR. Both these were informed to your exchange on 3rd September, 2015 as part of closing notification of the acquisition process relating to HCR. As part of its overall business strategy post acquisition by MHRIL, HCR is looking at various options including re-organization of its related assets and reducing of its debt, which is business as usual and of routine in nature. In respect of reference in the news article relating to acquisition of a holiday company by HCR, the Company does not comment on speculative news. However, they would like to reiterate that as in the past, the Company would continue to inform stock exchanges about any price sensitive information before the same is made public.
The above information is a part of company’s filings submitted to BSE.
Company Name | CMP |
---|---|
Indian Hotel | 568.35 |
EIH | 475.65 |
Mahindra Holi.&Resor | 434.10 |
Chalet Hotels | 888.00 |
Lemon Tree Hotels | 144.50 |
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