HAMILTON BERMUDA Bloomberg recently reported that Sea Containers Ltd., a cargo and ferry ship operator, plans to sell another 5 million shares of its Orient-Express Hotel Ltd. stock and then spin off its remaining stake.
In August, Sea Containers sold about 10 million shares of Orient-Express, spinning off 37% of the hotel chain. Approximately 120 days following the 5-million-share sale, the company will spin off what s left of its 63% Orient-Express stake. (3/28/01)
SOURCE:Bloomberg L.P.