By  on June 6, 2008

Private equity firm Istithmar World Capital has acquired a 40 percent stake in Espa International, the U.K.-based global luxury spa company.

Espa, which has designed some of the world's most luxurious spas in five-star hotels — its latest is with the Peninsula New York Hotel — also markets a natural product range and runs a spa management division. The company operates 100 spas in 45 countries around the world, with offices in the U.K., U.S. and Hong Kong. A Dubai office, where IWC is based, is due to open later this year.

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