Latest news with #KKOSS
Time of India
a day ago
- Business
- Time of India
Mahindra Holidays acquires Finland's property firm for ₹2.35 crore via subsidiary
NEW DELHI: Mahindra Holidays & Resorts India (MHRIL), through its Finnish arm Holiday Club Resorts Oy (HCR), has acquired 100% stake in Keskinäinen Kiinteistö Oy Salla Star (KKOSS), a mutual real estate company based in Finland , for ₹2.35 crore. The all-cash deal gives MHRIL full ownership of KKOSS, which owns a land parcel and a building in the village of Märkäjärvi, in the municipality of Salla. The move comes more than a decade after HCR began leasing the property in 2012. The acquisition aligns with a pre-agreed share purchase arrangement allowing HCR to take control of the asset. The acquired company posted a turnover of ₹5.13 lakh and had a net worth of ₹2.37 lakh as of December 31, 2024. With this acquisition, Mahindra Holidays strengthens its real estate footprint in Finland, where it has maintained an active presence through its European subsidiary.
Time of India
2 days ago
- Business
- Time of India
Mahindra Holidays acquires Finnish mutual real estate company KKOSS
Chennai: Mahindra Holidays & Resorts India has, through its Finland-based subsidiary, acquired 100% stake in Finnish mutual real estate company Keskinäinen Kiinteistö Oy Salla Star (KKOSS) for a cash consideration of Rs 2.35 crore. The deal was done through the Finland incorporated Holiday Club Resorts Oy (HCR), which is a wholly owned subsidiary of Covington Sarl (Covington), which is a wholly owned subsidiary of MHR Holdings (Mauritius) which is a wholly owned subsidiary of Mahindra Holidays & Resorts India. KKOSS is primarily in the business of owning and managing the property located in Block 26 in the village of Märkäjärvi, in the municipality of Salla, Finland, the company said in a stock market notification on Thursday. HCR has acquired 100% stake in KKOSS comprising 448 shares, said the notification. The turnover of KKOSS for calendar year 2024 was Rs 5.13 lakh.
