Indian Hotels Company Ltd And Charme II Fund Acknowledge Announcement By Orient-Express Hotels Ltd.
MUMBAI, India, Nov. 8, 2012 /PRNewswire/ -- The Indian Hotels Company Ltd ("Indian Hotels") and Montezemolo & Partners on behalf of Charme II Fund today acknowledged the recent announcement by Orient-Express Hotels Ltd. (NYSE: OEH) ("Orient-Express"), and are reviewing the position taken by the Orient-Express Board and considering their options with respect to their offer to acquire Orient-Express.
Bank of America Merrill Lynch is serving as sole financial advisor to Indian Hotels, Shearman & Sterling LLP is serving as legal advisor to Indian Hotels, and Hotel Advisor (UK) Ltd is providing industry expertise for the proposed transaction.
About The Indian Hotels Company Ltd
Indian Hotels is the hotel operating company of the Tata group. Indian Hotels and its subsidiaries, collectively known as Taj Hotels Resorts and Palaces, comprising of 99 hotels in 56 locations across India with an additional 16 international hotels including such iconic hotels as The Taj Mahal Palace in Mumbai, The Pierre Hotel in New York City and The Taj Lake Palace in Udaipur.
About Charme Funds
Charme II Fund was established by the Montezemolo family, and is managed by Montezemolo & Partners S.p.A, to make investments in leading companies with strong ties to Italy. Montezemolo & Partners was founded by Luca Cordero di Montezemolo, one of Italy's most prominent businessmen who serves as Chairman of Ferrari S.p.A. as well as Vice Chairman of UniCredit. The Montezemolo and Charme Group are renowned in Italy and abroad as reputable investors in leading luxury group companies. In their current portfolio there is, among other investments, Poltrona Frau Group, world leader in high end furniture and design, representing the three main high end furniture companies in Italy such as Poltrona Frau, Cassina and Cappellini. Poltrona Frau Group has been listed by the Montezemolo Group in 2006 at the Milan Stock Exchange and is already a partner of Tata Sons in Casa Decor, a joint venture company, established in 2008 to expand and promote the Poltrona Frau Group brands in India.
Forward Looking Statements
The statements included in this press release regarding a possible transaction among Indian Hotels, Charme II Fund and Orient-Express, including the timing thereof, regulatory approvals, the likelihood that either such transaction could be consummated and other statements that are not historical facts, are forward-looking statements. These statements involve risks and uncertainties including, but not limited to, actions by regulatory authorities, market conditions, Orient-Express's financial results and performance, consummation of financing, satisfaction of closing conditions and actions by any other bidder. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Indian Hotels disclaims any intention or obligation to update publicly or revise such forward looking statements, whether as a result of new information, future events or otherwise, and therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.
SOURCE The Indian Hotels Company Ltd
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos and customised feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Until you hear the full story, why would you invest?
Making sound investment decisions can be difficult. You can study the figures and read the analyst recommendations, but how do you really know the story behind company strategy? How can you get answers to your questions?
The Private Investor Network helps you to reach an informed decision on the stocks you pick. Interactive presentations from UK listed companies give you the kind of access previously enjoyed only by the big fund managers. And with keynote speeches from industry experts, downloadable content and an investor lounge where you can swap tips with your peers, you can invest with confidence.
For more information, and to register for FREE, visit us at www.privateinvestornetwork.co.uk
Get content for your website
Enhance your website's or blog's content with PR Newswire's customised real-time news feeds.
Contact PR Newswire
Send us an email at MarketingUK@prnewswire.co.uk or call us at +44 (0)20 7454 5382
Become a PR Newswire client
Request more information about PR Newswire products & services or call us at +44 (0)20 7454 5382