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 party's potential nominations read like a high school race for student body president
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...