Mahindra Holidays Acquires 100% Stake in Finland-Based KKOSS

Mahindra Holidays & Resorts India Limited (MHRIL), through a structured subsidiary chain, has successfully completed the acquisition of Keskinäinen Kiinteistö Oy Salla Star (KKOSS), a Finnish mutual real estate company.

The acquisition was executed on July 3, 2025, by Holiday Club Resorts Oy (HCR), a wholly owned subsidiary of Covington S.a.r.l., which is in turn a subsidiary of MHR Holdings (Mauritius) Limited and ultimately, MHRIL.

About the Target Company – KKOSS

Keskinäinen Kiinteistö Oy Salla Star, Finland, is primarily engaged in the business of owning and managing land and property. Located in Block 26, village of Märkäjärvi, in the municipality of Salla, Finland, KKOSS operates as a mutual real estate company (MREC), focusing on maintaining the land plot and the building on it.

The turnover of KKOSS for the financial year ending December 31, 2024, stood at ₹5,13,644, while its net worth was ₹2,37,441. The company has shown a consistent financial trend over the last three years, with turnover figures of ₹5,84,690 (2022), ₹5,69,426 (2023), and ₹5,13,644 (2024).

Acquisition Details

The acquisition has been carried out through a Share Purchase Agreement (SPA), resulting in HCR acquiring a 100% stake in KKOSS, totalling 448 shares, for a consideration of ₹2,34,73,220. The acquisition was completed on the same day, July 3, 2025.

This transaction does not fall under the category of related party transactions. Additionally, the promoter/promoter group or group companies of Mahindra Holidays have no direct interest in KKOSS, apart from its status as a newly acquired subsidiary.

Rationale and Strategic Fit

HCR, a subsidiary of Mahindra Holidays, had been leasing the premises owned and managed by KKOSS as part of an agreement executed back in 2012. The acquisition of KKOSS was a part of that longstanding arrangement, which required HCR to eventually purchase all the shares of KKOSS. With this acquisition, MHRIL now has complete ownership and control of the land and premises that were previously under lease, further strengthening its asset base in Finland.

This acquisition aligns well with Mahindra Holidays’ broader strategic objective of consolidating its international operations and streamlining property ownership for operational efficiency.

Also Read: Mahindra Holiday Eyes 10,000-Room Portfolio by 2030! 

Conclusion

With the acquisition of KKOSS, Mahindra Holidays & Resorts India Ltd continues to expand its international footprint and reinforce its presence in Europe. The strategic takeover not only transitions HCR from a tenant to an owner but also provides operational control and long-term stability over the Finland-based resort premises.

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