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Indian Hotels buys 10% in Orient-Express

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BS Reporter Mumbai
Indian Hotels buys 10% in Orient-Express
BS Reporter / Mumbai September 18, 2007
Indian Hotels Company (IHCL), the owner of the Taj chain of hotels, has acquired a 10 per cent stake in the NYSE-listed Orient-Express Hotels for nearly Rs 850 crore through open market operations.

This acquisition may be a precursor to an association with Orient-Express, which owns or part-owns and manages 35 hotels in 25 countries. The Tata group company has also written a letter to James B Hurlock, chairman of the Orient-Express board, seeking an appointment to discuss a possible alliance with the company.

IHCL Vice-Chairman R K Krishna Kumar said:

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First Published: Sep 18 2007 | 1:25 AM IST

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