Indian millionaire to buy Pontins?

15/11/2010

The Daily Mail reports that Pontin’s, the chain of holiday camps which went into administration on Friday, could soon end up in the hands of Indian millionaire Bhanu Choudhrie, securing 
850 jobs.

Choudhrie, through his family’s investment vehicle C&C Alpha Group, has teamed up with the Dubai Royal Family to look at buying the iconic business for up to £15 million.

C&C Alpha Group will hold discussions with administrator KPMG tomorrow.

Choudhrie said: ‘We want to keep the management team in place and expand the business.’

The entrepreneur said he had looked at the business six months ago after Pontin’s chief executive Ian Smith was searching for potential investors.

Read more: http://www.dailymail.co.uk/news/article-1329517/Indian-millionaire-rescue-Pontins-Dubai-Royal-Family.html#ixzz15KjPa4w2

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