Minor International announces Sri Lanka investment

Minor International Plc (MINT) has secured a key investment in Sri Lanka, acquiring an 80.1% share in the Sri Lankan company Cyprea Lanka Pvt. Ltd. whose assets comprise the Kani Lanka Resort & Spa, Kalutara, and an adjacent plot of land primed for the development of the Anantara brand. The total acquisition and development investment is estimated at US$22 million.

MINT leads the way with key investments in Sri Lanka, with its first foray into the market in 2007 with a 19.9% acquisition of Serendib Hotels*. The significant new investment serves to build upon the company’s existing presence in Sri Lanka, with MINT’s interest in Cyprea further strengthened by the fact that its Sri Lankan business partner Serendib has acquired the remaining 19.9% share.

MINT will oversee the operation of the Kani Lanka Resort & Spa as part of the company’s ever increasing portfolio of global properties. In addition this venture creates an ideal opportunity to introduce an Anantara branded property to Sri Lanka by developing the adjacent prime beachfront location. Upholding Anantara’s brand pillars of luxurious five star journeys steeped in the history, culture and breathtaking natural surrounds of each property’s locale, guests of the future Anantara property are poised to benefit from the compelling destination attractions in the area.

 

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