gulfnews : Kerzner 'aims to sell 50% stake in Atlantis Dubai to pay debts'

Premier resorts and luxury hotels operator Kerzner International is looking to sell its 50 per cent stake in Dubai's Atlantis resort. The company needs to raise money to restructure $2.6 billion (Dh9.5 billion) in mortgage debt due to mature on September 9, according to a report in the Wall Street Journal, quoting sources familiar with the matter.

When asked to comment, a Kerzner International spokesperson told Gulf News in an emailed statement: "It is company policy not to comment on rumours or market speculation."

The WSJ report also said the Bahamas-based company is in talks to sell the stake in the Dubai Atlantis to Istithmar World, the Dubai-based investment company which already owns the other half of the Dubai resort as Kerzner's partner and largest shareholder.

* username: rupertbu