MINT expands into Sri Lanka
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Minor International Plc (MINT) has extended its presence to Sri Lanka, with the Bt37.6 million acquisition of a hotel and resort project.
Its 80.1-per cent-owned subsidiary, Jada Resort and Spa (Private) Ltd, in September acquired the 100 per cent stake in Paradise Island Resorts (Private) Ltd, Minor International said in a statement to the Stock Exchange of Thailand.
The stake was sold by Seller City Developers International (Private) Ltd for LKR 160.2 million or equivalent to Bt37.6 million. Paradise Island Resorts is capitalised at LKR 60 million or Bt14 million. LKR 60 million, or equivalent to Bt14 million.
"The investment is to expand hotel footprint globally and increase MINT presence in Sri Lanka," said Trithip Sivakriskul, corporate chief financial officer
.
MINT is today one of the largest hospitality companies in the Asia Pacific region, with over 70 hotels & resorts.
