New Delhi : Mahindra Holidays said it has acquired 18.8 per cent stake in European vacation ownership firm Holiday Club Resorts Oy, Finland, for euro 13 million.
This initial acquisition will be completed in a month’s time subject to required regulatory approvals, Mahindra Holidays Chairman Arun Nanda told reporters. “This acquisition is part of a larger vision to widen our international footprint. We are excited at the prospect of expanding in Europe and the Middle East along with Holiday Club. We are confident that synergies from this acquisition will fuel and propel our future growth,” Nanda said.
Holiday Club has a membership base of over 50,000 families and is a leading leisure brand in Europe. Once full ownership is achieved, the combined entity has the potential to become the largest vacation ownership company in the world, outside the United States.
