Mahindra Holidays acquires 51% stake in Sweden's Visionsbolaget

The acquisition was done through Mahindra Holidays’ step-down subsidiary Holiday Club Sweden AB.

Mahindra Holidays and Resorts India Ltd. said on Tuesday that it has bought a 51% stake in Sweden's spa hotel company Visionsbolaget AB for Rs. 7.1 crore.

The acquisition was done through Mahindra Holidays’ step-down subsidiary Holiday Club Sweden AB.

With this, Visionsbolaget has become the subsidiary of Holiday Club Sweden AB and in turn, a step-down subsidiary of the company, Mahindra Holidays & Resorts told BSE. 

“Further, Visionsbolaget is in the process of changing its name to Holiday Club Sport and Spa Hotels AB,” the company said in regulatory exchange filing.

Visionsbolaget is operating a spa hotel in Sweden and is buying more such hotels. 

“It (Visionsbolaget) shall also be running spa, restaurant and other supporting businesses," Mahindra Holidays said in a statement.