• Qatar banks Savoy

Katara Hospitality has led a joint venture to buy a 50% stake of the Savoy hotel in London. The Qatari investors agreed the purchase from Lloyds Banking Group at an undisclosed price, reports the London Times.
Savoy manager Fairmont Raffles, whose owner already holds the remaining 50% interest in the Savoy, was part of the joint venture deal. Lloyds inherited its interest in the London landmark when it took over the Royal Bank of Scotland in 2008.

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