JKH looks at Confifi prospects

John Keells Holdings informed the Colombo Stock Exchange (CSE) last week that it considered the possibility of acquiring the Confifi Hotels Group in the group’s routine process of looking at other properties.

It was responding to a CSE request for clarification on news reports of JKH’s interest in the Confifi Group which had triggered a sharp hike in Confifi shares.

The Confifi Group, also responding to a letter from the CSE, said it believed the price hike was due to the media reports. Both parties didn’t disclose in the letters whether they have decided to sell (Confifi) or buy (JKH).