10:28
Sahara buys London hotel for Rs 3,290 cr: "In the largest overseas acquisition by an Indian company in the hospitality sector, Sahara India Pariwar of Subrata Roy has acquired iconic Governor House, a 5-star luxury hotel run by JW Marriott in Central London from The Royal Bank of Scotland Group plc for around £470 million (around Rs 3,290 crore).
“The valuation of the hotel, three years back was more than £1 billion. The valuation, even today is quite high but due to highly satisfactory due diligence by the Royal Bank of Scotland which owned the property and after long and strict negotiations, we have purchased it for £470 million,” said Subrata Roy Sahara, Managing Worker & Chairman, Sahara Group. Royal Bank of Scotland took control of the property — which was once home to the Duke of Westminster — in 2001 when it paid £1.2 billion for 12 Le Meridien hotels as part of a sale- and-leaseback deal."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
“The valuation of the hotel, three years back was more than £1 billion. The valuation, even today is quite high but due to highly satisfactory due diligence by the Royal Bank of Scotland which owned the property and after long and strict negotiations, we have purchased it for £470 million,” said Subrata Roy Sahara, Managing Worker & Chairman, Sahara Group. Royal Bank of Scotland took control of the property — which was once home to the Duke of Westminster — in 2001 when it paid £1.2 billion for 12 Le Meridien hotels as part of a sale- and-leaseback deal."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
