Five years after being rebuffed by the
Orient-Express management, the Tata Group-promoted Indian Hotels, which
operates the Taj Group, teamed up with an Italian fund to make a second
attempt to take over the Bermuda-based chain of luxury hotels, resorts
and trains, in part.
In a late evening announcement on Thursday, Indian Hotels said it, along with Charme II Fund, an Italian fund managed by Montezemolo and Partners SpA, had sent a letter to Orient-Express, proposing to purchase all outstanding shares of the company's Class A common stock for $12.63 per share in cash.
In a late evening announcement on Thursday, Indian Hotels said it, along with Charme II Fund, an Italian fund managed by Montezemolo and Partners SpA, had sent a letter to Orient-Express, proposing to purchase all outstanding shares of the company's Class A common stock for $12.63 per share in cash.
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