Steel magnate Lakshmi Mittal is considering investing in the UK luxury hotels industry, according to UK media.
L K Advisers, a consultant of Mittal family, is understood to be in talks with Von Essen Hotels, to acquire a stake in the business, writes The Sunday Telegraph.
Andrew Davis, the entrepreneur who owns Von Essen, is contemplating selling a stake in the group in a move that would allow him to crystalize some of his estimated pound 210 million fortune.
People close to the company said it could announce a significant acquisition of its own as soon as this week.
By Staff Writer