Indian Hotels, the company who operates Taj Hotels Resorts and Palaces, is pressing on with its bid for Orient-Express Hotels and has now revealed plans if it is successful on acquiring the 40-strong luxury hotel group.
Earlier this month, the company announced it was making a $1.86bn bid to take control of Orient-Express after it has held just a 6.9% stake in the business for a number of years. Indian Hotels has now offered £7.86 per share for the remaining 93.1% of the company, a figure that reflects a 40% premium over the current share price.
Based in Mumbai, Indian Hotels also expressed that if successful, they will operate the business, which owns Raymond Blanc’s Le Manoir aux Quat’ Saisons, as an independent company with standalone management and a board of directors within the Tata Group, the parent company of Indian Hotels.