Indian Hotels Company in association with Charme II Fund, an Italian fund is keen to acquire the luxury hotel chain Orient-Express Hotels.
The deal is likely to be valued at an estimated $1.86 billion (approx Rs 9,486 crore), including Orient-Express' net debt. The two companies have jointly written to Orient-Express Hotels to buy all the outstanding shares at $12.63 a share in cash.
The Hamilton, Bermuda-headquartered Orient-Express Hotels has a chain of 45 hotels, cruise and luxury rail businesses in 22 countries.