This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Indian Hotels Company Ltd And Charme II Fund Acknowledge Announcement By Orient-Express Hotels Ltd.

Stocks in this article: OEH

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 LtdIndian 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 FundsCharme 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 StatementsThe 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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs