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  1. Qatar Investment to buy Sahara’s stake in 3 hotels: Sources

Qatar Investment to buy Sahara’s stake in 3 hotels: Sources

Sahara and Qatar investment authority have agreed upon the sale of Sahara's stake in its three overseas hotels.

By: | New Delhi | Updated: July 7, 2016 8:22 PM
Out of the total money, Sahara is expected to pay 995 million to Reuben brothers, its prime lender.

Out of the total money, Sahara is expected to pay 995 million to Reuben brothers, its prime lender.

Sahara and Qatar investment authority have agreed upon the sale of Sahara’s stake in its three overseas hotels-Grosvenor House (London), New York Plaza and Dream Downtown (NY) for USD 1.6 billion. In a report CNBC-TV18 said today,”Sahara likely to sell three overseas hotels, likely to raise over Rs 10,000 crore to secure bail amount.”

Out of the total money, Sahara is expected to pay 995 million to Reuben brothers, its prime lender. After Supreme Court nod, deal completion will take about 2 months.

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