08.07.2016 - Sahara sells 3 hotel stakes to Qatar Investment for $1.6bn
Qatar Investment Authority has agreed to buy Indian diversified group Sahara's stake in three overseas hotels for a whopping $1.6 billion, said a report. According to a report on CNBC-TV18, the agreement to buy stakes in Grosvenor House (London), New York Plaza and Dream Downtown (NY) nears a close after a 24-month long negotiation period. Out of the total money, Sahara is expected to pay $995 million to Reuben brothers, its prime lender. The Indian group is looking to move the Supreme Court tomorrow for its approval...............................................Full Article: Source
Print