Investment firm BMB Group has made an unsolicited bid of US $3.4 billion cash for Kerzner International Holdings.
"We are not interested in casino assets, but are growing our global real estate exposure and are particularly interested in the hospitality sector," BMB said in a statement.
South African hotel heavyweight Sol Kerzner took the company private in 2006 and operates resorts and luxury hotels, including Atlantis resorts in the Bahamas and Dubai and Mazagan Beach Resort in Morocco.
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Kerzner International also operates six luxury resorts under the One&Only brand in the Bahamas, Mexico, Mauritius, the Maldives, South Africa and Dubai.
BMB said its interest in Kerzner was due to its confidence in the future of Dubai as a hospitality destination.
However, Kerzner International stated the company was “not for sale”.
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