WLPL becomes wholly-owned subsidiary of ITC

WelcomHotels Lanka (WLPL), a company incorporated in Sri Lanka has become a wholly-owned subsidiary of ITC with effect from May 04, 2012. This is pursuant to allotment of 37,65,000 equity shares to the company by WLPL on that date.

ITC, a diversified conglomerate has business interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.