KHL offers lapse

On October 30, John Keells Hotels PLC (KHL) made conditional voluntary offers to acquire 100% of the issued shares of each of the three listed hotel companies operated under the Confifi Group, namely, Riverina Hotels PLC (Riverina), Eden Hotel Lanka PLC (Eden) and Confifi Hotel Holdings PLC (Confifi, the owning company of Palm Gardens Hotel).

However as the conditions of the offers have not been met by the initial offer closure date, being November 20, KHL has decided not to extend the offers.

Accordingly, the offers lapsed on Tuesday.