• Sahara makes Plaza deal

A consortium of investors has agreed a USD1.55bn loan to Sahara group, owner of the New York Plaza hotel and Grosvenor House in London. The cash will allow Sahara to refinance debt at the Plaza, and pay bail to release Sahara chief Subrata Roy from jail, reports the Wall Street Journal. 

Roy has been in jail since March, trying to release funds to repay Indian investors under a court demand. Indian fund Mirach Capital is heading the consortium of borrowers.  
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