BIL set to bid for remaining Thistle shares

21 March 2003 by
BIL set to bid for remaining Thistle shares

BIL International, the majority shareholder in Thistle Hotels, is considering making an offer for the remaining shares in the UK hotel group.

BIL confirmed its board had met last week to discuss a possible offer for Thistle at a "modest premium", but declined to confirm whether an offer would be forthcoming. BIL already has a 46% stake in the group.

Last November Thistle and BIL both dismissed speculation that the hotel group was on the verge of being taken over. At the time it was thought BIL was considering selling its stake in Thistle to Jersey-based investment company Orb Estates.

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