| In its application Sahara informed the Supreme Court that it is in advanced stages of negotiations with Qatar Investment Authority (QIA)Qatar-based sovereign wealth fund, for sale of its three premium hotels. Sahara's three prized jewels include - the Grosvenor House in London and the Dream Downtown and New York Plaza in New York.
Sahara informed the court that the two sides have already concluded the signing of the Letter of Intent (LoI). Sahara also revealed that the after negotiations the consideration agreed upon for the cumulative stake of Sahara in all three properties was USD 1.6 bn. Ater the signing of the LoI, talks between Sahara and QIA progressed at a fast clip...............................................Full Article: Source
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