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Indian Hotels Company Ltd To Acquire Orient Express Hotels Limited


Thursday, 18 Oct 2012 10:18am EDT 

Indian Hotels Company Ltd announced that the Board of Directors of the Company held at Mumbai this evening the Directors have in principle, subject to the necessary regulatory approvals, authorized the Company to make an offer to the Board of Directors of Orient-Express Hotels Limited seeking their consent for the Company acquiring the balance outstanding 93.1% Class A common Shares of Orient-Express Hotels Limited i.e. 100%. The Company proposes to finance the acquisition of such shares and related transaction costs through a combination of debt and equity. Total funds required to consummate the transaction is in place. The Company also has an agreement Montezemolo & Partners an important Italian company directly owned by the Montezemolo family who is the Manager of charme II Fund, which will be a minority shareholder in the Special Purpose Vehicle set up for the transaction. 

Company Quote

103.65
-4.25 -3.94%
11 Jul 2014