Orient-Express Hotels Responds to Indian Hotels' 13D Filing
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Orient-Express Hotels Responds to Indian Hotels' 13D Filing
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Category: Asia Pacific
This is a press release selected by our editorial committee and published online for free on 2007-12-11
Orient-Express Hotels Ltd. (http://www.orient-express.com) owners or part-owners and managers of 50 luxury hotels, restaurants, tourist trains and river cruise properties in 25 countries today announced that it has responded to a letter filed as an exhibit to a form 13D filed by the Indian Hotels Company Ltd (IHCL) on December 7, 2007. The letter from Orient- Express Hotels President and Chief Executive Officer, Paul White, is below.
IHCL has filed a 13D with the Securities and Exchange Commission stating that it has acquired additional shares taking their Orient-Express Hotels holding to 11.5 per cent. The filing contained a copy of a letter from Taj Hotels, part of IHCL, proposing a possible association which would explore what it sees as synergies between the two companies while preserving Orient-Express Hotels' standalone position. Orient-Express Hotels had previously rejected a similar proposal from the company.
The Board of Orient-Express Hotels continues to consider that the IHCL proposal is not in the interests of Orient-Express Hotels and its shareholders and therefore has advised them accordingly.
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