D.E. Shaw buys, sells shares of Orient-Express Hotels

By Lisa Kerner

Charlotte, N.C., May 27 - Orient-Express Hotels Ltd. investors led by D.E. Shaw & Co., LP beneficially own 7.6%, or approximately 3.2 million shares, of the company's common stock following a series of buy and sell transactions made between March 28 and May 21, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

In a February SEC filing, D.E. Shaw asked Orient-Express to clarify the rights of the company's super voting class B shares and how the shares would be used if an offer is made for the company.

More recently, fellow shareholder SAC Capital Advisors, LLC said in an SEC filing that it was also concerned about the company's dual share class and corporate governance structure, including the super voting rights of its class B shares and the legality of the structure.

In December, Orient-Express turned down Indian Hotels Co., Ltd.'s proposal to explore the synergies of the two companies, despite Indian Hotels' 11.5% stake in Orient-Express.

It was previously reported that Orient-Express rejected a similar proposal from Mumbai-based Indian Hotels in the past.

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

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