Mahindra Holidays acquires 19% stake in Finnish resort.

Mahindra Holidays & Resorts has acquired a 19 per cent stake in Holiday Club Resorts Oy of Finland. The acquisition will be completed in a month. Mahindra Holidays did not disclose how much it paid.

It has also signed definitive agreements to increase its ownership over two years, with the balance to be acquired by September 2016.

The share of private investors, who own 74 per cent of the unlisted Finnish company, will come down to 62 per cent while that of employees, who hold 26 per cent, will drop to about 18 per cent after the the deal. MHRIL will initially get one seat on the board of Holiday Club Resorts, but will see a gradual rise with the increase in its stake.

HBL