Steel magnate Lakshmi Mittal sizes up luxury hotel chain

Mittal, who topped the Sunday Times Rich List 2008 for the fourth year running with his £27.7bn fortune, is said to be in talks with Von Essen Hotels – the company behind upmarket country hotels including Cliveden in London and The Royal Crescent in Bath.

According to a report in The Sunday Telegraph, Andrew Davis – the entrepreneur who owns Von Essen – is looking to release some of the equity in his £210m-fortune business.

And it’s not just luxury hotels that are on Mittal’s hit list. There are also rumours that the Indian-born tycoon is planning to enter the takeover battle for Rio Tinto, the world’s biggest iron ore producer.

Read more about Mittal – and Britain’s other top Asian entrepreneurs – by clicking here.

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