Mahindra Holidays & Resorts India (MHRIL), via its Finnish subsidiary Holiday Club Resorts Oy (HCR), has secured a complete 100% ownership stake in Keskinäinen Kiinteistö Oy Salla Star (KKOSS), a mutual real estate firm located in Finland, for a total of Rs2.35 crore.
This all-cash transaction grants MHRIL full control over KKOSS, which possesses a land parcel and a building situated in the village of Märkäjärvi, within the municipality of Salla. This acquisition occurs more than ten years after HCR commenced leasing the property in 2012. The purchase is in accordance with a previously established share purchase agreement that permits HCR to assume control of the asset.
The acquired entity reported a turnover of Rs5.13 lakh and had a net worth of Rs2.37 lakh as of December 31, 2024. Through this acquisition, Mahindra Holidays enhances its real estate presence in Finland, where it has sustained an active involvement via its European subsidiary.
