Various media reports incorrectly linked Al Habtoor Group to Al Habtoor Trading Enterprises and owner Rashid Al Habtoor
Leela Palace Kempinski, Bangalore, India … Indian media reported that Al Habtoor Trading Enterprises has made an offer of $600 million in capital infusion for the debt-ridden Hotel Lela venture.
Dubai-based Al Habtoor Group is not involved in a potential acquisition of the Leela Group of Hotels in India by the similarly named Al Habtoor Trading Enterprises, the company said in a statement.
The statement comes after a number of news outlets in India and the Middle East reported on the potential acquisition of Hotel Lela venture by Al Habtoor Trading Enterprises (HTE) and its owner Rashid Al Habtoor.
Various media reports incorrectly linked the move to the Al Habtoor Group.
The company’s official statement, however, noted that the group has “no links or relationship of any kind” with HTE or Rashid Al Habtoor.
“We feel obligated to clarify that Al Habtoor Group in all its divisions and Al Habtoor Trading Enterprises are two separate entities,” a company spokesperson said. “We want to clarify to anyone that might have the impression that the two entities are linked, that they are not in any way connected.”
The spokesperson added that “any actions or business decisions taken by Al Habtoor Trading Enterprises or any of their associates are their sole responsibility and Al Habtoor Group is not liable under any circumstance for any damages or liabilities arising directly or indirectly from Al Habtoor Trading Enterprises business ventures.”
According to Indian media reports, HTE has made an offer of $600 million in capital infusion for the debt-ridden Hotel Lela venture.