TORONTO (Bloomberg) ? Fairmont Hotels & Resorts Inc., the Canadian luxury-hotel operator fending off a takeover by billionaire Carl Icahn, sold a Hawaii hotel to Westbrook Partners LLC for $250 million to raise money to buy other assets.

The sale of the Fairmont Orchid to Westbrook,will be recorded as a pre-tax gain of about $109 million, Toronto-based Fairmont said last week. Fairmont, which bought the hotel for $140 million three years ago, will continue to manage the property.

The sale of the Orchid ?supports our strategy of acquiring attractive assets, realising the value created through improved performance then redeploying the capital,? Fairmont said. The company, which owns the Fairmont Southampton and the Hamilton Princess in Bermuda, is examining ?a number? of hotel assets as potential purchases.

BRIDGETOWN, Barbados ? The government of Barbados has approved the acquisition of the mobile phone operations of Cingular Wireless on the island by fast-growing competitor Digicel, officials said last Friday.

The Fair Trade Commission ruled the deal would not hurt consumers because it wouldn?t give Digicel control of more than 40 percent of the island?s wireless communications market, said Vivianne Giddens, a vice president of the agency.

Digicel has already acquired Cingular?s operations in Anguilla, Antigua, Bermuda, Dominica, and St. Kitts.

SAN FRANCISCO (Dow Jones/AP) ? Tyco International Inc. on Friday said it will take a charge of $250 million to $300 million, before taxes, for its sale of its plastics, adhesives and Ludlow coated products businesses.

Tyco said last Tuesday that it agreed to sell the units, which make such products as trash bags, plastic sheeting and duct tape, to an affiliate of New York-based private investment firm Apollo Management LP for $975 million.