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FINANCIAL NEWS
Prince Alwaleed to fully acquire New York Plaza hotel
02 Dec 2014
(MENAFN) Saudi billionaire Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud is expected to make a full acquisition of the iconic Plaza hotel in New York, Arabian Business reported.
Prince Alwaleed, who currently owns 25 percent of the US landmark hotel, is expected to buy the rest of the hotel’s shares from its Indian owner, who is looking to sell his 75 percent stake in the hotel after buying them two years ago in a USD570 million deal.
“If the opportunity comes up whereby we can increase our stake we will. We will look at the deal when it comes, when Sahara decides eventually to push the button and act on this matter,” Alwaleed was quoted as saying.
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