Savoy shares slip amid growing doubts over sale
Thursday 26 March 1998
As The Independent first revealed, the Wontner family, which owns a substantial stake in the group, is divided on whether to sell the Savoy. Several members of the clan are vehemently opposed to a deal which could see the group fall into American hands.
It emerged yesterday, however, that Granada, the leisure and media group which owns a 68 per cent stake in the group, is willing to compromise over how much it would receive as a result of any sale in order to push the deal through.
It is waiting for a firm offer to be tabled before it reopens negotiations with the family over the division of the spoils. The Savoy also runs Claridge's, Connaught and Berkeley hotels.
Blackstone Group, the US investment group, is willing to pay pounds 520m for the Savoy but the group has attracted interest from a number of US hotel groups.
The Independent's live blog of today's Premier League action
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- 3 Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
- 4 Matthew Miller: American sentenced to hard labour in North Korea 'wanted to be Snowden II'
- 5 Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
4Chan naked photos leak: Celebrity Twitter reactions to the mass breach of privacy
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Archbishop of Canterbury admits doubts about existence of God
Portuguese academic says British are 'filthy, violent and drunk'
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