Browns Investments PLC disclosed that Browns Ari Resort (Private) Limited, its subsidiary, has agreed to sell the Barceló Whale Lagoon Maldives Resort to ASB Hotel Properties Maldives Private Limited for USD 57.5 million.

The transaction, formalized through a Sale and Purchase Agreement, is pending regulatory and third-party approvals in the Maldives. Browns Investments noted that a further announcement will be made once the transaction is completed.