Kerzner International's casino assets could be put up for sale if investment firm BMB Group is successful in its bid to take over the company.
The group, whose clientele includes high net-worth individuals, ruling families and sovereign investors from the Middle East and Asia, confirmed in October that it had made an unsolicited offer to buy Kerzner for $3.4bn through its subsidiary, BMB Advisors Malaysia.
However, the company was clear that it was interested solely in Kerzner’s hospitality and real estate assets, which include the Atlantis resorts in Dubai and the Bahamas, stating that it is unlikley that BMB will retain long-term ownership of the casino assets.
"We are not interested in casinos assets but are growing our global real estate exposure and are particularly interested in the hospitality sector," BMB said in a statement.
Kerzner, however, flatly refused the offer.
"We received an unsolicited letter from BMB, but Kerzner is not for sale," the company said in a statement.
In June this year, Kerzner hired private equity firm Blackstone Group to provide advice on restructuring approximately $3.2bn in debt.
