Sri Lanka sate-run provident fund buys into hotel

Mar 18, 2010 (LBO) - Sri Lanka state-run Employees Provident Fund of private citizens had bought a 10 percent stake in Lighthouse Hotel, a unit of the Jetwing leisure group, a stock exchange filing said. NDB stockbrokers said the EPF, the country's largest retirement fund, had bought 4.
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6 million shares of Lighthouse.

The hotel is part owned by Sri Lanka's Hayleys group and was initiated as part of a joint thrust into the leisure sector. Hayleys is now going it alone and acquired Continental Hotel, Colombo's oldest five star rated hotel earlier this month.
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