Harel Mallac to restructure investments in hospitality under new entity

Harel Mallac & Co. Ltd  is about to restructure its activities through the carve-out of its investments in Attitude Hospitality Management Ltd (20.0% ownership interest), Water Sports Village Limited (24.5% ownership interest) and Zilwa Resort Ltd (24.0% ownership interest) from Harel Mallac Group.

As part of the Restructuring, the Harel Mallac will incorporate a new wholly-owned subsidiary, Cavell Touristic Investments Ltd and transfer its investments in Hospitality Shares to the new subsidiary through an intra-group transfer.

The ordinary shares of the new subsidiary will be listed on the Development & Enterprise Market of the Stock Exchange of Mauritius around 24 April 2023.

The restructuring is expected to enable Harel Mallac to focus on its core operations.

The new subsidiary will be managed independently.

Source: Stock Exchange of Mauritius