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Mergers & Acquisitions | 9 November 2012

Orient-Express Hotels Rejects Tata's Offer

by Paritosh Gajjar
 
@Paritosh

After a repeated attempt by Indian Hotels Limited to buyout the Orient-@Express_Hotels, the operator of luxury hotels, cruise and train services in the West, has rejected the offer stating ‘cheap’ valuation as a reason.

Tata group owned Indian Hotels had bid a 40% share premium price of $12.63 per share or a total consideration of around $1.86 Bn last month.

The bid was made in conjunction with the chairman of Ferrari, Luca Cordero di Montezemolo, who had agreed to invest $100 Mn for a minority stake in the newly combined entity.


Hindusthan Glass To Raise Funds

Hindusthan National Glass is planning to raise R300 Cr. The company’s board meeting held on Tuesday has approved to issue new equity shares of face value of Rs. 2/- each at a premium, issue size aggregating, upto R300 Cr on Rights/Preferential basis, either as direct equity or through a convertible ...

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KSS To Part Exit K Sera Sera Miniplex

KSS Limited is planning to divest 26% stake in its subsidiary in K Sera Sera Miniplex Limited by way of offer for sale at a total valuation of INR 2,000 Mn.

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