Sahara India acquires majority stake in New York's Plaza Hotel

November 28, 2012 18:53

Sahara India is understood to have acquired 75 per cent stake in the Plaza Hotel in New York. Media reports said Subrata Roy-promoted Sahara paid USD 575 million for the 75 per cent take and the remaining 25 per cent is held by Kingdom Holding Co, a firm controlled by Saudi prince Alwaleed bin Talal. Fairmont Hotels & Resorts, which manages the property, confirmed the change in the ownership but did not elaborate on the financial details of the transaction.

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