• Roy agrees Grosvenor deal

Embattled hotel investor Subrata Roy has signed a deal to get him out of an Indian jail. Among new backers in a GBP1.3bn deal is a UK hotel group that will take over the Grosvenor House, reports the Telegraph.

The deal has been put together by Mirach Capital, a consortium headed by Saransh Sharma. It will see the London hotel sold, along with the Plaza and Dream hotels in New York.

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