14 Oct 2010

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Hostile move on Kerzner group

AFP

Johannesburg - Kerzner International on Thursday confirmed that it had received an offer from investment firm BMB to buy its Bahamas-based resort chain.

"We can confirm we received an unsolicited letter from BMB, but Kerzner is not for sale" said company spokesperson Jennifer Glaisek.

BMB said in a statement it had made an offer of $3.4bn, but Glaisek could not confirmed the figure.

The resort group, which is owned by South African hotel and gambling magnate Sol Kerzner, includes the flagship Atlantis Paradise Island.

Kerzner has a string of luxury resorts around the world. He opened his first jungle themed resort, Sun City in South Africa in 1979.

BMB, founded in 2004 by a Brunei prince and Fiji-born Rayo Salahadin Withanage, manages wealth for Middle Eastern and Asian investors.

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