Sahara Group reaches deal to sell New York Plaza Hotel for $600 million

Sahara Group reaches deal to sell New York Plaza Hotel for $600 million
05/05/2018 , by , in News/Views

Two investors have struck a deal to buy a majority stake in the iconic Plaza Hotel in the US for $600 million, in which the embattled Sahara Group led by Subrata Roy Sahara owns a 70 per cent stake, a media report has said.

The report in the New York Times said that Shahal Khan, founder of the Dubai-based family office White City Ventures, and Kamran Hakim of the Hakim Organization, a major New York City landlord, have reached a deal to buy a majority share of the Plaza Hotel for $600 million.

The deal is scheduled to close on June 25, it said.

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