Reubens to the Rescue, acquire Sahara hotels
Advertisement
Advertisement
Billionaire brothers David and Simon Reuben will take over Sahara group’s Grosvenor House hotel and two other luxury hotels - Plaza and Dream Downtown — in a whopping $850 million (Rs. 5,500 Crore) deal.The Reubens have also purchased the two loans against the properties from
The Grosvenor House hotel was recently put up on sale by the Bank of China after Sahara failed to pay the defaulting amount. Sahara bought it in 2010. The two other US hotels followed. The trio was brought for an estimated$1.55 billion.
The Group has been long trying to raise $1.6 billion to get its chief Subrata Roy out on bail by monetizing its assets. Roy has been in Tihar Jail for over a year now. It has also been in a legal strife with SEBI over raising funds worth around Rs. 24,000 Crores. The company claims it has repaid 95% of the investors.
(Image credit: Indiatimes)
Advertisement
Advertisement
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Markets crash: Investors' wealth erodes by ₹2.25 lakh crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market