September 30, 2016 / 11:51 AM / a year ago

BRIEF-Mara Delta Property to buy resort for $40 mln

Sept 30 (Reuters) - Mara Delta Property Holdings Ltd :

* Entered into deal with Nereide Ltd, a unit of Lux Island Resorts Ltd to buy of hotel building Tamassa Resort

* Total consideration of euro equivalent of $40 mln on a debt free basis

* Caution is no longer required to be exercised by shareholders when dealing in Mara Delta's securities

* Intends to fund purchase price through issue of new Mara Delta ordinary shares Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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