Management of both firms after signing the deal

Sri Lanka’s Expolanka Holdings PLC today acquired the controlling stake in Akquasun Holidays India Private Limited, by making an investment of US$ 915,000.

Akquasun Holidays, a Mumbai-based destination management specialist is a B2B Destination Management network company.

The firm is primarily mandated to attract traffic from emerging markets like India, Russia and China.

“This acquisition gives us greater impetus and strength to operate in a high growth industry such as the tourism sector” Group Chief Executive of Expolanka Holdings Hanif Yusoof was quoted saying in a statement issued by the firm after the deal went through.

Expolanka is planning to use Akquasan’s wide global network of offices located in Maldives, Mauritius, Hong Kong, China, Dubai, Tanzania, South Africa, UK, Russia and the USA.

Expolanka Holdings is a diversified conglomerate whose areas of activity range from transportation and manufacturing to international trading and strategic investments.

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