Mahindra Holidays & Resorts India today said Sweden-based Visionsbolaget AB has become its subsidiary through a group firm.
Holiday Club Sweden AB, a step-down subsidiary of Mahindra Holidays & Resorts, has subscribed 51 per cent stake in Visionsbolaget.
"... Consequent upon Holiday Club Sweden AB, step-down subsidiary of the company, subscribing to 51 per cent stake in Visionsbolaget, 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 today.
It added that Visionsbolaget is in the process of changing its name to Holiday Club Sport and Spa Hotels AB.
