Mahindra Holidays & Resorts acquires 100% stake in Covington

Mumbai: Mahindra Holidays and Resorts India Ltd on Thursday said it had acquired 100% stake in Covington Sarl, Luxembourg, and the latter was now a wholly-owned subsidiary of the company.

“Mahindra Holidays and Resorts India has informed BSE that Covington Sarl, Luxembourg, (“Covington”) has become a wholly owned subsidiary of the company consequent to acquisition of 100% stake in Covington by the company’s wholly owned subsidiary MHR Holdings (Mauritius) Ltd, with effect from 17 July 2014.” the company said in a statement on BSE.

Shares of Mahindra Holidays and Resorts rose 0.54% to end at ₹ 309.65 apiece, while the benchmark Sensex rose 0.48% to an all-time high of 26,271.85 points.