| The Abu Dhabi Investment Authority has made a £1.6bn takeover offer for a trio of London’s luxury hotels, in a move that could resolve an acrimonious ownership dispute.The bid from the Middle Eastern sovereign wealth fund for London landmark Claridge’s, along with The Connaught and The Berkeley, values the hotels at £3m per key — one of the highest sums ever for a hotel, according to a source familiar with the situation.
Shareholders in the hotels have subsequently received two other approaches from asset-rich investors in two other Middle Eastern countries, according to sources familiar with the situation. The hotels are owned by Irish property entrepreneurs Derek Quinlan and Paddy McKillen through the Maybourne Hotel Group...............................................Full Article: Source
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