October 27, 2012 1:10:32 am
Pushing its $1.86 billion acquisition offer,Indian Hotels has asked Orient-Express Hotels chairman J Robert Lovejoy for a meeting with Tata group chairman Ratan Tata along with Ferrari chairman Luca Montezemolo.
In an attempt to allay concerns of the US-based hospitality chain,Indian Hotels Co Ltd (IHCL) vice-chairman R K Krishna Kumar,in a letter to Lovejoy,said the Tata group firm would like to engage in a constructive dialogue.
Kumar said in his letter,In this situation,we are seeking to forge together an alliance between the two great names in the hospitality industry to significantly broaden the footprint of both companies and create a new global competitor in the luxury segment of the hospitality industry.
Citing the examples of Jaguar Land Rover and Corus acquisitions by the over $100 billion conglomerate,he said,…Orient-Express Hotels will remain a separate and independent company with standalone management and board of directors,as has been the policy and practice throughout the Tata Group.
Orient-Express Hotels has already described IHCLs second attempt to acquire it as unsolicited.