French luxury group LVMH Moet Hennessy Louis Vuitton is reportedly nearing a deal to acquire UK-based luxury hotels operator Belmond for about $25 per share in cash.

Citing people familiar with the matter, Wall Street Journal reported that this potential deal would take the total enterprise value of Belmond to about $2.6bn.

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In August, Belmond appointed Goldman Sachs Group and JPMorgan Chase & Co to undertake a strategic review.

Belmond chairman Roland Hernandez last month said the review was “robust” and management was encouraged by the interest it received, reported Bloomberg.

LVMH owns the Louis Vuitton brand and champagne brand Dom Perignon.

Its hospitality portfolio includes the luxury Bulgari hotel brand and Cheval Blanc brand.

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In October, Bloomberg reported citing people familiar with the matter that other potential buyers exploring an offer for all or part of Belmond included KSL Blackstone Group, Capital Partners, KKR & Co. and Ashkenazy Acquisition.

In 2013, Belmond rejected a $1.2bn bid from India-based Tata Group.

Earlier known as Orient-Express Hotels, Belmond either owns or has stakes in over 30 luxury hotels around the world.

These properties include Hotel Caruso on the Amalfi Coast in Italy and the Grand Hotel Europe in St. Petersburg.

Besides the ‘21 Club,’ its luxury properties also include safari camps in Botswana, a cruise line in France, a train line running from London to Venice.