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Hayleys makes mandatory offer for Amaya Leisure Plc

Sep 5, 2011 3:17:41 PM - www.ft.lk

Hayleys PLC has made a mandatory offer to purchase 49% of the shares of Amaya Leisure Plc at Rs.107 per share.  
Amaya share yesterday closed at Rs. 110, up by one rupee.
The offer for 23,536,777 shares (49%) was made in keeping with the Takeovers and Mergers code of the Securities and Exchange Commission as Hayleys in concert with Dean Foster (Pvt) Ltd (21.34%), Tokyo Cushion Lanka (Pvt) Ltd (1.7%) and Volanka Exports Ltd ( 1.34%) hold 51 per cent of the ordinary share capital of Amaya Leisure Plc a stock exchange filing said.

Amaya leisure is a subsidiary of Connaisance Holdings and its resorts include Amaya Lake in Dambulla(previously Culture Club), Amaya Hills  in Kandy ( previously Le Kandyan) and Langdale by Amaya in Nuwara Eliya. Hayleys other interest in the hotel sector span hotels such as Hunas Falls, Jetwing Hotels, Negombo Hotels, Tropical Village, Eastern Hotels, hotel management through Hayleys Leisure Holdings and an investment through Carbotels Ltd.