Belle Mare Holding Ltd (MUSE:BMHL) made a mandatory offer to acquire remaining 99.84% stake in Constance Hotels Services Limited from Hotelest Limited and others for approximately MUR 2 billion on August 8, 2014. Under the terms of the offer, Belle Mare agreed to pay MUR 31.5 per share acquired. In related transactions, Belle Mare Holding Ltd (MUSE:BMHL) made an offer to acquire additional 69.99% stake in Hotelest Limited for MUR 680 million and signed an agreement to acquire additional 18.4% stake in Hotelest Limited on August 8, 2014. BMHL has sufficient financial resources to satisfy the acceptance for the mandatory offer. The offer will start in the week commencing August 18, 2014. The Board of Hotelest has decided not to accept Belle Mare's offer.

Belle Mare Holding Ltd (MUSE:BMHL) cancelled the acquisition of remaining 99.84% stake in Constance Hotels Services Limited from Hotelest Limited and others on August 8, 2015.