Indian Hotels Seek Bigger Stake In Orient-Express
Indian Hotels Co. has restarted efforts to boost its stake in Bermuda registered Orient-Express, according to a Bloomberg report.
Bloomberg reports that, “The Mumbai-based company has approached Orient-Express about a deal, though discussions are at an early stage and may fail to lead to an agreement, the people said, declining to be identified as deliberations are private.
“Indian Hotels owns 6.9 percent of Hamilton, Bermuda-based Orient-Express, whose market value has jumped 32 percent this year to $1.2 billion.
“Indian Hotels, owner of the Taj Mahal Palace in Mumbai, initially paid $211.3 million for a 10 percent stake in Orient- Express in 2007.”
