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2 posters

Sri Lanka's Aitken Spence buys hotel in India

First Guy

First Guy: Posts : 2599
Join date : 2014-02-22

Post n°1

Sri Lanka's Aitken Spence buys hotel in India

by First Guy Fri Jun 13, 2014 7:15 am

June 11, 2014 (LBO) - Sri Lanka based Aitken Spence group said it had bought a new 143-room 'five star' graded hotel in Chennai, India for 25 million US dollars.

The acquisition was made through Aitken Spence Hotel Managements (South India) Private Limited, the company said in a stock exchange filing.
The Indian arm was 49 percent owned by Aitken Spence Plc and 51 percent by Aitken Spence Hotel Holdings Plc, both listed in Colombo.

Aitken Spence already manages hotels in India, Maldives and Oman in addition to Sri Lanka.

http://www.lankabusinessonline.com/news/sri-lankas-aitken-spence-buys-hotel-in-india/1441986856

stocks hunter

stocks hunter: Top contributor; Posts : 1280
Join date : 2014-03-16

Post n°2

Re: Sri Lanka's Aitken Spence buys hotel in India

by stocks hunter Fri Jun 13, 2014 6:20 pm

We can expect major price movement from SPEN in coming days. If you take last couple of years SPEN rock bottom price was around Rs 95 levels. This was below Rs 100 levels and Trade around Rs 104 - Rs 100 levels for a long time now. Main reason the selling of shares by Aberdeen fund. It seems now the selling have exhausted may attract new buyers in coming days.

Wait and see what is happening here.

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