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Hotel Industry News |
Saturday November 22nd, 2008 |
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Kerzner International Announces Sale of 2,000,000 Ordinary Shares Owned by Kersaf |
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PARADISE ISLAND, The Bahamas--(BUSINESS WIRE)--Dec. 6, 2002-- Kerzner International Limited (NYSE:KZL) (the Company) today announced the sale of 2,000,000 Ordinary Shares of the Company owned by an affiliate of Kersaf Investments Limited (Kersaf) pursuant to the terms of the previously announced restructuring agreements related to our majority shareholder dated July 2001.
The Company has a registration statement filed with the Securities and Exchange Commission that became effective on June 5, 2002 covering these Ordinary Shares, and will file a prospectus supplement to permit the sale of the Ordinary Shares. In accordance with a global settlement agreement entered into with Kersaf and other parties in November 2002, the Company will receive approximately $32.1 million of the selling shareholder's proceeds from the offering.
Bear, Stearns & Co. Inc. and Deutsche Bank Securities are acting as Joint Book-Running Managers of this offering. A copy of the prospectus supplement relating to the sale of the Ordinary Shares may be obtained from Bear, Stearns & Co. Inc. at 383 Madison Avenue, New York, NY 10179, 212/272-2000.
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Contact Information:
Kerzner International Resorts, Inc.
1000 South Pine Island Road
Plantation, FL 33324
Phone (954) 809-2000
Fax (954) 809-2337
Click for Website
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Kerzner International Limited is a leading developer and operator of premier casinos, resorts and luxury hotels. The Company's flagship destination is Atlantis, a 2,317-room, ocean-themed resort located on Paradise Island, The Bahamas. Atlantis is a unique destination casino resort featuring three interconnected hotel towers built around a 7-acre lagoon and a 34-acre marine environment that includes the world's largest open-air marine habitat. |
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