Dubai Holdings, the investment arm of the government of Dubai, has built up a 9.2% stake in Orient-Express Hotels. The Times
It has emerged in a filing with the US Securities and Exchange Commission that Dubai Holdings approached the US-listed Orient-Express, which owns the eponymous train, as well as Cipriani in Venice and Le Manoir aux Quat’Saisons in Oxfordshire, on 10 September with a $4.8bn (£2.3bn) takeover proposal.
Orient-Express Hotels ‘had no interest in pursuing such a proposal’.
Dubai Holdings has acquired the 9.2% stake through its luxury hotels chain, Jumeirah Group.