 "Mahindra Holidays completes acqusition of 19% equity in Holiday Club Resorts")
According to earlier reports, the company will pay euro 13 million (Rs 106 crore) for the stake, with a primary infusion of euro 3 million (Rs 24.4 crore) followed by a secondary infusion of euro 10 million (Rs 81.5 crore) for the existing shareholders. Both the parties have agreed to lock in the purchase price of the balance shares that would have to be bought before September 2016.
Holiday Club is a leading vacation ownership company in Europe having 32 resorts and around 2,800 rooms, says earlier report.
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