Business Wire

Belmond Announces Review of Strategic Alternatives to Enhance Shareholder Value

Del

Belmond Ltd. (NYSE: BEL), owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, which operate in 24 countries, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value.

Belmond’s iconic properties include Belmond Hotel Cipriani in Venice, Belmond Hotel Splendido in Portofino, Belmond Copacabana Palace in Rio de Janeiro, Belmond Le Manoir aux Quat'Saisons in Oxford, Belmond Grand Hotel Europe in St. Petersburg, Belmond El Encanto in Santa Barbara, and the storied ‘21’ Club restaurant in New York.

“The Board is committed to pursuing a path that is in the best interests of all Belmond shareholders. Accordingly, we are conducting a robust review of the full range of strategic, operational and financial alternatives available to the Company, including a possible sale,” said Roland Hernandez, Chairman of the Board of Directors. “We have made meaningful progress toward our long-term strategic goals, including growing earnings, increasing brand awareness, and expanding our global footprint. We believe that now is the right time to conduct a strategic review process in order to enhance value for shareholders, given Belmond’s truly exceptional and unique collection of iconic owned properties and strong fundamentals in our markets around the world.”

No assurances can be given regarding the outcome or timing of the review process. The Company does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or beneficial.

The Board has engaged Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as financial advisors and Weil, Gotshal & Manges LLP as legal advisor to assist in its review.

About Belmond Ltd.

Belmond (belmond.com) is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established over 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, its unique and distinctive portfolio now embraces 46 hotel, rail and river cruise experiences, excluding one scheduled for a 2018 opening in London, in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, seven luxury tourist trains, including the Venice Simplon-Orient-Express, and two river cruises. Belmond also operates ‘21’ Club, one of New York’s most storied restaurants. Further information on the Company can be found at investor.belmond.com.

Cautionary Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding the Company’s review of strategic alternatives, which are not historical facts and therefore involve risks and uncertainties. These statements are based on management’s current expectations and beliefs regarding future developments, are not guarantees of performance and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause actual results, performance and achievements to differ from those express or implied in the forward-looking statements include, but are not limited to, those mentioned in the news release and oral presentations, our ability to execute and achieve our three-point growth strategy, future effects, if any, on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, failure to realize expected hotel bookings and reservations and planned real estate sales as actual revenue, inability to sustain price increases or to reduce costs, rising fuel costs adversely impacting customer travel and the Company’s operating costs, fluctuations in interest rates and currency values, uncertainty of negotiating and completing any future asset acquisitions, leases, sales and third-party management contracts, debt refinancings, capital expenditures and acquisitions, inability to reduce funded debt as planned or to obtain bank agreement to any future requested loan agreement waivers or amendments, adequate sources of capital and acceptability of finance terms, possible loss or amendment of planning permits and delays in construction schedules for expansion projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, possible challenges to the Company’s ownership of its brands, the Company’s reliance on technology systems and its development of new technology systems, changing global or regional economic conditions and weakness in financial markets which may adversely affect demand, legislative, regulatory and political developments (including the evolving political situation in Ukraine, Brazil, and Peru, and regional events in Myanmar, in the United Kingdom in respect of its withdrawal from the European Union and in the United States in respect of its evolving immigration and trade policies and the Tax Cuts and Jobs Act of 2017, and the resulting impact of these situations on local and global economies, exchange rates and on current and future demand), the threat or current transmission of epidemics, infectious diseases, and viruses, such as the Zika virus which may affect demand in Latin America, including the Caribbean, and elsewhere, and possible challenges to the Company’s corporate governance structure. Further information regarding these and other factors that could cause management’s current expectations and beliefs not to be realized is included in the filings by the Company with the U.S. Securities and Exchange Commission. Except as otherwise required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statement, whether due to new information, future events or otherwise.

Contact information

Belmond Ltd.
Investors:
Martin O’Grady, +44 203 117 1333
Executive Vice President, Chief Financial Officer
martin.ogrady@belmond.com
or
James Costin, +44 203 117 1325
Group Financial Controller and Director of Investor Relations
james.costin@belmond.com
Media:
Jocelyn Betts, +44 203 117 1362
Corporate Communications Director
jocelyn.betts@belmond.com
or
Sard Verbinnen & Co
US & International:
George Sard / Robin Weinberg / Stephen Pettibone, +1 212 687 8080
or
UK & International:
Jon Aarons / Conrad Harrington, +44 20 7467 1050

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Blommer Chocolate to Be Acquired by Fuji Oil Holding19.11.2018 09:03Pressemelding

The Blommer Chocolate Company, the largest ingredient chocolate manufacturer in North America and third largest in the world, announced that it has entered into an agreement to be acquired by Fuji Oil Holding, Inc., a global leader in oil and fat ingredients serving the food industry. The sale includes all Blommer business entities, including its four manufacturing operations in North America and one in Shanghai. Blommer is a private, family-owned company; Fuji Oil is publicly traded on the Tokyo Stock Exchange. “For nearly 80 years, our family business has grown to become a major ingredients supplier to most of the iconic brands across a wide variety of food categories,” said Peter Blommer, CEO and third-generation family member. “This is a landmark event in the proud history of Blommer Chocolate Company and begins an exciting new chapter as we look forward to joining a highly respected global leader in Fuji Oil. Our companies share common values and a deep commitment to product quali

GSMA Announces New Speakers for Mobile 360 Series – MENA19.11.2018 09:00Pressemelding

The GSMA today announced a number of additional high-profile speakers for its Mobile 360 Series – MENA (Middle East and North Africa) conference taking place on the 26-27 November 2018 in Dubai. The mobile industry-focused event, which is now in its sixth year, will cover the key industry issues facing the region, with a particular emphasis on transformative technologies including artificial intelligence (AI), blockchain and 5G. “Mobile is having a transformative impact across this diverse region with mobile operators in the GCC states laying the foundations for leadership in 5G and planning ahead to commercial launches, while the region’s emerging markets are seeing rising smartphone adoption,” said John Giusti, Chief Regulatory Officer, GSMA. “We have a incredible line-up of expert speakers this year, ready to outline the key issues and challenges facing the region – we’re looking forward to a thought-provoking and exciting showcase.” New speakers added to the agenda include: Hakam K

Dentons Global Chairman and Global Chief Executive Officer Re-Elected19.11.2018 08:00Pressemelding

Dentons, the world's largest law firm, announced today that Joseph Andrew and Elliott Portnoy have been re-elected to three-year terms as Global Chairman and Global Chief Executive Officer, respectively. They have led the firm together since its formation in March 2013. Messrs. Andrew and Portnoy ran without opposition and have been the entrepreneurial drive and architects of Dentons’ client-centric strategy and polycentric approach to law firm management, resulting in a period of unprecedented growth while many law firms are contracting as they are buffeted by the changes shaping the legal profession globally. Under their leadership, Dentons has grown into the world’s largest law firm with more than 9,600 lawyers operating in 174 locations and 78 countries. During this same time, the firm has successfully completed dozens of business combinations throughout markets in Africa, ASEAN, Australia, Canada, Caribbean, China, Europe, Latin America, Middle East, United Kingdom and United Stat

Telefónica Deutschland Selects SIAE MICROELETTRONICA for Turn-Key DCN Migration Services in Germany19.11.2018 08:00Pressemelding

Telefónica Deutschland , a leading integrated telecommunications provider in Germany awards SIAE MICROELETTRONICA, a long-term strategic partner for wireless transmission solutions, a turn-key contract for DCN (Data Communication Networks) migration services across its backhaul network. Following the successful acquisition of E-Plus, Telefónica Deutschland new backhaul network counts over 30.000 microwave radio links from three different vendors, including SIAE MICROELETTRONICA. In preparation for a potential 5G launch in the future, Telefónica is taking steps to simplify operations and maximize performances and coherence across its network. With these activities Telefónica plans to update its DCN by implementing a new common-DCN architectural model. The migration services entrusted to SIAE MICROELETTRONICA include project- management, IP network design, new-model implementation and operation service delivery. The cluster-by-cluster migration process consists of a mix of remote configu

Biosense Webster Launches Report - The Burden of Atrial Fibrillation: Understanding the Impact of the New Millennium Epidemic Across Europe19.11.2018 06:00Pressemelding

Biosense Webster EMEA, a Division of Johnson & Johnson Medical NV/SA and leader in the treatment of Atrial Fibrillation (AF) has today, during AF Association Global AF Aware Week, published a report that uncovers the growing burden of AF on patients, caregivers and healthcare systems across Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181118005008/en/ The new report is calling for greater awareness and emphasis on the scale and impact of AF which is fast becoming one of the world’s most significant health issues. The new millennium epidemic not only disrupts the quality of life for the 11 million people across Europe who suffer from AF, but also costs healthcare systems up to €3,286 million annually across European countries.2-7 AF is characterized by an irregular and often fast heart rhythm that results in uncoordinated contraction of the top two chambers of the heart. The irregular heart rhythm may cause blood cl

China National Medical Products Administration (NMPA) Approves Gilead’s Vemlidy® (Tenofovir Alafenamide) for Chronic Hepatitis B Virus (HBV) Infection19.11.2018 03:00Pressemelding

Gilead Sciences, Inc. (NASDAQ: GILD) announced today that the China National Medical Products Administration (NMPA) has approved Vemlidy® (tenofovir alafenamide, TAF) 25 mg, a once-daily treatment for chronic hepatitis B in adults and adolescents (aged 12 years and older with body weight at least 35 kg). Vemlidy is a novel, targeted prodrug of tenofovir that has demonstrated antiviral efficacy similar to Gilead’s Viread® (tenofovir disoproxil fumarate, TDF) 300 mg but at one-tenth of the dose. Data show that because Vemlidy has greater plasma stability and more efficiently delivers tenofovir to hepatocytes compared to Viread, it can be given at a lower dose, resulting in less tenofovir in the bloodstream. In clinical trials, Vemlidy demonstrated improved renal and bone laboratory safety parameters compared to Viread. “With the approval of Vemlidy, physicians can now offer their patients a treatment that retains the efficacy of TDF while improving renal and bone safety parameters in cli