Sri Lanka sate-run provident fund buys into hotel

Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

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 4.6 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.