Al Habtoor Group denies relationship with Al Habtoor Trading Enterprises

The clarification came after news reports emerged that Rashid Al Habtoor is looking to buy Leela Group of Hotels in India for $600 million.

Al Habtoor Group - owned by the Dubai-based billionaire Khalaf Al Habtoor, on Wednesday clarified that the group and its subsidiaries have no relationship with Al Habtoor Trading Enterprises which is owned by Rashid Al Habtoor.
The clarification came after news reports emerged in Indian media that Rashid Al Habtoor is looking to buy Leela Group of Hotels in India for $600 million.
"We feel obligated to clarify that Al Habtoor Group in all its divisions and Al Habtoor Trading Enterprises are two separate entities. Habtoor Hospitality, commonly known as Habtoor Hotels, is owned solely by Al Habtoor Group in the UAE and overseas," a spokesperson for Al Habtoor Group said.
"We want to clarify to anyone that might have the impression that the two entities are linked, that they are not in any way connected. Any actions or business decisions taken by Al Habtoor Trading Enterprises or any of their associates are their sole responsibility, and Al Habtoor Group is not liable under any circumstance for any damages or liabilities arising directly or indirectly from Al Habtoor Trading Enterprises business ventures," said the spokesperson.
The UAE billionaire's Habtoor Hospitality units owns 14 hotels - 7 in UAE and 7 abroad. Al Group owns properties in Al Habtoor City located on Sheikh Zayed Road.
According to Hurun Research Institute, Khalaf Al Habtoor and family had assets worth Dh12.5 billion last year. While IANS news reported $550 million wealth of Rashid Al Habtoor.
-waheedabbas@khaleejtimes.com