Sri Lanka Serendib Hotels sells stake in Hotel Sigiriya

June 17, 2010 (LBO) – Serendib Hotels has sold part of its stake in Hotel Sigiriya, both part of Sri Lanka’s Hemas group, in a deal worth 40.6 million rupees, a stock exchange filing said. Serendib Hotels, whose property is on a prime beach front on the south-west coast and is a major shareholder of Hotel Sigiriya, sold 729,900 shares or a 12.46 percent stake between June 3 and June 10, it said.

It made a net profit of 40.6 million rupees on the disposal of the shares.

The present holding of Serendib Hotels in Hotel Sigiriya, a hotel in the north-central region, is 63.23 percent