A hotel chain backed by a Native American tribe is one of four final bidders for the Hard Rock Cafe, the restaurant chain owned by Rank, the UK leisure group, which is valued at about £500m (€746m).

Seminole Hard Rock Hotels and Casinos, a collaboration between the Seminole Tribe of Florida and Hard Rock International,submitted a bid late on Monday for the business, according to people close to the situation.

The other bidders are understood to be Permira; its UK private equity rival TDR Capital; and Apollo Management, a rival US buyout group.

Posted: 11|8|06 at 2:11 pm. Filed under: Auction News.