• Sahara looks to sell

Sahara Group is canvassing offers for its 75% stake in Manhattan’s Plaza Hotel, acquired for USD431m. Sahara chief Subrata Roy is being held in India over a bond issue in India used to raise funds from small investors, reports the Wall Street Journal.

An Indian court demanded Roy repay investors, but he was arrested after failing to appear to explain delays in doing so. Sahara also owns London’s Grosvenor House hotel.

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