Mahindra Holidays & Resorts acquires Covington Sarl

Mahindra Holidays & Resorts India Ltd has said that its wholly owned subsidiary MHR Holdings (Mauritius) Ltd has acquired Covington S.a.r.l, Luxembourg, consequent to which Covington has become a wholly owned subsidiary of the Company, with effect from July 17, 2014.

In an announcement with the Bombay Stock Exchange, the company informed that Covington S.a.r.l, Luxembourg, has become a wholly owned subsidiary of the Company consequent to acquisition of 100% stake in Covington by the Company's wholly owned subsidiary MHR Holdings (Mauritius) Limited, with effect from July 17, 2014.

It may be noted that the company has announced MHR Holdings as its wholly owned subsidiary with effect from July 11, in an announcement issued on July 16, 2014.

 

Recently, the company has also announced acquisition of around 18.8% share in a leading European Vacation Ownership company, Holiday Club Resorts Oy Finland.