Orient-Express says no thanks to Indian Hotels' bid to combine

By Lisa Kerner

Charlotte, N.C., Dec. 10 - Orient-Express Hotels Ltd. said despite Indian Hotels Co. Ltd.'s 11.5% stake in the company, Orient-Express has no interest in pursuing the shareholder's proposals, according to a form 8-K filing with the Securities and Exchange Commission.

Indian Hotels, in an earlier schedule 13D filing with the SEC, proposed exploring the synergies of the two companies, while preserving Orient-Express Hotels' standalone position.

Orient-Express rejected a similar proposal from Mumbai-based Indian Hotels in the past, according to a company news release.

In a letter to Indian Hotels, Orient-Express president and chief executive officer Paul M. White outlined reasons for rejecting the proposals that included lack of strategic fit and a possible reduction in value of the Orient-Express brand.

Bermuda-based Orient-Express owns and operates deluxe hotels, restaurants, tourist trains and river cruise businesses.

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