Ambeon strengthens portfolio through strategic hospitality investments

STRENGTHENS GROWTH STRATEGY THROUGH EQUITY STAKES IN ICONIC SRI LANKAN HOTEL COMPANIES - THE KANDY HOTELS COMPANY PLC AND CEYLON HOTELS CORPORATION PLC

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Ambeon Group, one of Sri Lanka’s leading diversified conglomerates, announced its strategic entry into the hospitality sector, with strategic equity investments in two listed hotel companies, reinforcing its confidence in the country’s tourism revival and long-term growth potential.

The targeted shareholding stakes were executed through Ambeon’s two flagship listed entities: Ambeon Capital PLC and its main subsidiary Ambeon Holdings PLC.

Ambeon Capital PLC acquired 12.3 million shares of Ceylon Hotels Corporation PLC, representing 6.84 percent of its issued capital while Ambeon Holdings PLC acquired 45.9 million shares of The Kandy Hotels Company PLC, representing 6.09 percent of its issued capital.