Mahindra Holidays acquires Saimaa Gardens Arena Oy

NEW DELHI: Mahindra Group firm Mahindra Holidays & Resorts India has acquired Finland based Saimaa Gardens Arena Oy for an undisclosed amount.

The company's step-down subsidiary, "Holiday Club Resorts Oy, Finland has increased its stake in Saimaa Gardens Arena Oy, Finland, from 24 per cent to 100 per cent," Mahindra Holidays & Resorts India said in a filing to BSE.

Consequently, SGA became wholly owned subsidiary of HCR and in turn of the company from January 19, 2016, it added.

The company however did not share any financial details about the acquisition.

Mahindra Holidays stock closed at Rs 356.15, down 2.74 per cent, on the BSE.