New Delhi: Mahindra Holidays & Resorts India on Saturday said its Finland-based arm Holiday Club Resorts Oy has sold its entire stake in three subsidiaries for a total consideration of 12,00,000 euros to Skanska Talonrakennus Oy.
"Holiday Club Resorts Oy, a step-down subsidiary of the company, has disinvested its entire stake in three subsidiaries namely, Kiinteisto Oy Jalomella, Kiinteisto Oy Outapalas and Kiinteisto Oy Ulkuvuoma, Finland with effect from March 31, 2016," Mahindra Holidays & Resorts India said in a filing to the BSE.
Consequently, all the three companies ceased to be subsidiaries of Holiday Club Resorts Oy, and in turn of the company, it added.
The consideration received is 4,00,000 euros each from the sale of these firms, Mahindra Holidays & Resorts India said.
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