-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NZX6autfa5JvmxhRZonEcvcmksqCCRf8yg5EIhMLZdr5VKdBC4asMz/Qt686Pg1R GIs0xSTXkOrhDj0Ln5P8Dw== 0001017918-06-000102.txt : 20060424 0001017918-06-000102.hdr.sgml : 20060424 20060421184302 ACCESSION NUMBER: 0001017918-06-000102 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20060424 DATE AS OF CHANGE: 20060421 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KERZNER INTERNATIONAL LTD CENTRAL INDEX KEY: 0000914444 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 980136554 STATE OF INCORPORATION: C5 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-48645 FILM NUMBER: 06773714 BUSINESS ADDRESS: STREET 1: ATLANTIS, CORAL TOWERS STREET 2: EXECUTIVE OFFICES CITY: PARADISE ISLAND, BAH STATE: C5 ZIP: NONE BUSINESS PHONE: 242-363-6000 MAIL ADDRESS: STREET 1: ATLANTIS, CORAL TOWERS STREET 2: EXECUTIVE OFFICES CITY: PARADISE ISLAND, BAH STATE: C5 ZIP: NONE FORMER COMPANY: FORMER CONFORMED NAME: SUN INTERNATIONAL HOTELS LTD DATE OF NAME CHANGE: 19931104 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BAMCO INC /NY/ CENTRAL INDEX KEY: 0001017918 IRS NUMBER: 133390015 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 767 FIFTH AVENUE STREET 2: 49TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 FIFTH AVENUE STREET 2: 49TH FL CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D 1 kzlbody.txt SCHEDULE 13D Page 1 of 12 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) KERZNER INTERNATIONAL, LTD. ----------------------------------------------------- (Name of Issuer) ORDINARY SHARES ----------------------------------------------------- (Title of Class of Securities) P6065Y107 ----------------------------------------------------- (CUSIP Number) Linda S. Martinson, Esq. (212) 583-2000 767 Fifth Avenue, 49th Floor, New York, NY 10153 ----------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 21, 2006 ----------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [x]. Check the following box if a fee is being paid with this statement [ ]. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SEC 1746 (12-91) Schedule 13D (continued) CUSIP No. P6065Y107 Page 2 of 12 Pages - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Group, Inc. - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER SHARES 135,000 BENEFICIALLY ------------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER EACH 5,436,145 REPORTING ------------------------------------------------------------ PERSON 9 SOLE DISPOSITIVE POWER WITH 135,000 ------------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 5,652,145 - ----------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,787,145 - ----------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON* HC, CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. P6065Y107 Page 3 of 12 Pages - ----------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BAMCO, Inc. - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY ------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,132,000 REPORTING ------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,313,000 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,313,000 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.5% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON* IA, CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. P6065Y107 Page 4 of 12 Pages - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Management, Inc. - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER SHARES 135,000 BENEFICIALLY ------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 304,145 REPORTING ------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 135,000 ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 339,145 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 474,145 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.3% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON* IA, CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. P6065Y107 Page 5 of 12 Pages - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Asset Fund - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY ------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 2,400,000 REPORTING ------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,400,000 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,400,000 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.5% - ------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON* IV - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT Schedule 13D (continued) CUSIP No. P6065Y107 Page 6 of 12 Pages - ------------------------------------------------------------------------------ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ronald Baron - ------------------------------------------------------------------------------ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - ------------------------------------------------------------------------------ 3 SEC USE ONLY - ------------------------------------------------------------------------------ 4 SOURCE OF FUNDS OO - ------------------------------------------------------------------------------ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------ 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - ------------------------------------------------------------------------------ NUMBER OF 7 SOLE VOTING POWER SHARES 135,064 BENEFICIALLY ------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 5,436,145 REPORTING ------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 135,064 ------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 5,652,145 - ------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,787,209 - ------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 15.8% - ----------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC, IN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT Page 7 of 12 Pages Item 1. Security and Issuer (a) Name of Issuer: Kerzner International, Ltd. (b) Address of Issuer's Principal Executive Offices: Executive Offices Coral Towers Paradise Island, The Bahamas (c) Title and Class of Securities: Ordinary Shares Item 2. Identity and Background This statement is filed jointly by the entities and persons listed below, which are sometimes referred to herein as "Reporting Persons" (a) Name: Baron Capital Group, Inc. ("BCG") BAMCO, Inc. ("BAMCO") Baron Capital Management, Inc. ("BCM") Baron Asset Fund ("BAF") Ronald Baron (b) Business Address: 767 Fifth Avenue New York, NY 10153 (c) Present Principal Business or Employment: BCG: Holding company BAMCO: Investment adviser BCM: Investment adviser BAF: Registered investment company Ronald Baron: Chairman & CEO: BCG, BAMCO, BCM; CEO: BAF 767 Fifth Avenue New York, NY 10153 (d) Record of Convictions: During the last five years, Filing Persons were not convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) Record of Civil Proceedings: Ronald Baron, without admitting or denying the allegations, consented to the entry of an SEC order on April 29, 2003, containing findings that Baron aided and abetted violations of Section 15(c)(1)(A) of the Securities Act of 1934, and Baron agreed to cease and desist from committing or causing any violations and any future violations thereof. He also agreed to accept a censure and pay a civil penalty of $500,000. During the last five years, no other Filing Person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating such activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Citizenship: BCG, BAMCO and BCM are New York corporations. BAF is a series of a Massachusetts business trust. Ronald Baron is a citizen of the United States. Item 3. Source and Amount of Funds or Other Consideration Ronald Baron is the general partner of a limited partnership for his sons, which owns 64 shares of the Issuer directly, purchased by cash for an aggregate price of $1,280. BAMCO directed the purchase of 5,313,000 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $154,732,879. Of those shares, 2,400,000 were purchased for the account of BAF for a total price of $77,808,281. BCM directed the purchase of 339,145 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $8,897,033 and 135,000 shares of the Issuer for an investment partnership for an aggregate price of $3,043,497. All of the shares were paid for by cash assets in the respective clients' accounts and/or by margin borrowings pursuant to standard margin agreements. Page 8 of 12 Pages Item 4. Purpose of Transaction The Reporting Persons have previously filed a Schedule 13G with respect to the Ordinary Shares of Kerzner International. As a result of the matters reported in this Item 4, the Reporting Persons have determined to report their ownership of the shares on this Schedule 13D. During meetings between Howard Kerzner and Ronald Baron and BCG's general counsel on April 19 and April 20, 2006 in the offices of BCG, Mr. Baron informed Mr. Kerzner that, on behalf of investment advisory clients of BAMCO and BCM, he did not support the proposed "going private" transaction for Kerzner International at $76 per share. Mr. Baron suggested that the group headed by Mr. Kerzner raise their offer to purchase Kerzner International to $80 per share. He stated that BAMCO and BCM would, on behalf of mutual funds and certain other accounts, be more likely to support the transaction if their clients were allowed to invest in the new company. Mr. Baron proposed to invest at least $200 million of equity on behalf of investment advisory clients in the new company. Mr. Baron subsequently spoke to Eric Siegel, the head of Kerzner International's special committee charged with evaluating this transaction, and Mr. Siegel's counsel by telephone. During that telephone call, Mr. Baron said he was not interested in selling shares of Kerzner International owned by BAMCO and BCM clients that could invest in the new company to another party unless the price were substantially higher than $80 per share. He also informed Mr. Siegel that he was not interested in investing in Kerzner International as a privately owned business on behalf of clients if that company were managed by anyone but Mr. Kerzner and his father, Solomon Kerzner. Mr. Baron told Mr. Siegel that, in his considered judgment, a transaction with the Kerzner family continuing as management not only offered Kerzner International prospects for further growth but provided a high degree of certainty that this proposed transaction could be completed rapidly. The Reporting Persons intend to review their investment in Kerzner International on a continuing basis and may engage in discussions with management and the board of directors of Kerzner International concerning the business, operations and future plans of Kerzner International. Depending on various factors including, without limitation, Kerzner International's financial position and investment strategy, the price levels of the shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in Kerzner International as they deem appropriate, including, without limitation, seeking Board representation, engaging financial, legal and other advisors, making proposals to Kerzner International concerning changes to the capitalization, ownership structures or operations of the company, changes to the overall strategic direction of the company, merger and/or sale opportunities, communicating with other shareholders regarding the company, purchasing additional shares, selling some or all of their shares, or changing their intention with respect to any and all matters referred to in this Item 4. Except as set forth herein, the Reporting Persons have no present plan or proposal that would result in or relate to any of the transactions required to be described in Item 4 of Schedule 13D. Page 9 of 12 Pages Item 5. Interest in Securities of the Issuer (a) Amount and percentage beneficially owned*: BCG: 5,787,145 15.8% BAMCO: 5,313,000 14.5% BCM: 474,145 1.3% BAF: 2,400,000 6.5% Ronald Baron: 5,787,209 15.8% (b) Number of shares as to which such person has: (i) sole power to vote or direct the vote: BCG: 135,000 BAMCO: 0 BCM: 135,000 BAF: 0 Ronald Baron: 135,064 (ii) shared power to vote or direct the vote: BCG: 5,436,145 BAMCO: 5,132,000 BCM: 304,145 BAF: 2,400,000 Ronald Baron: 5,436,145 (iii) sole power to dispose or to direct the disposition: BCG: 135,000 BAMCO: 0 BCM: 135,000 BAF: 0 Ronald Baron: 135,064 (iv) shared power to dispose or direct the disposition: BCG: 5,652,145 BAMCO: 5,313,000 BCM: 339,145 BAF: 2,400,000 Ronald Baron: 5,652,145 *Reporting Persons may be deemed to share power to vote and dispose of shares referred to herein as a result of control relationships (BCG and Ronald Baron with respect to all of the shares; BAMCO with respect to the BAF shares) and pursuant to investment advisory relationships with advisory clients. Reporting Persons disclaim beneficial ownership of the shares for which they share power. (c) A schedule of transactions effected in the last sixty days is attached hereto. (d) Ownership of More than Five Percent on Behalf of Another Person: The investment advisory clients have the right to receive the dividends from, or the proceeds from the sale of the securities in their respective accounts. To the best of Reporting Person's knowledge, other than the shares reported herein, no person has such interest relating to more than 5% of the outstanding class of securities. (e) Ownership of Less than Five Percent: Not applicable. Page 10 of 12 Pages Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer: Except as described herein, no contract arrangement, relationship or understanding(either oral or written) exists with the Reporting Persons as to the acquisition, disposition, voting or holding of their shares. Item 7. Material to be Filed as Exhibits Exhibit 99 - 60 days of trading. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: April 21, 2006 Baron Capital Group, Inc., BAMCO, Inc., and Baron Capital Management, Inc. By: /s/ Ronald Baron _______________________________________ Ronald Baron, Chairman and CEO Baron Asset Fund By: /s/ Ronald Baron _______________________________________ Ronald Baron, CEO Ronald Baron, Individually By: /s/ Ronald Baron _______________________________________ Ronald Baron EX-99 3 kzltrans.txt TRANSACTION SCHEDULE FOR THE LAST 60 DAYS Kerzner International, Ltd. Transaction Schedule From 2-21-06 To 4-21-06 Exec. Date Account ID Activity Quantity Price -------- ------------ ---------- ---------- --------- 03/07/2006 bcm sl 1,500 68.1287 03/07/2006 bcm by 1,300 68.1689 03/07/2006 bcm by 500 68.2500 03/07/2006 bcm sl 300 68.1358 03/07/2006 bcm sl 4,000 68.1358 03/07/2006 bamco by 4,500 68.1689 *All transactions were executed on NYSE. -----END PRIVACY-ENHANCED MESSAGE-----