UPDATE: Indian Tycoon Roy Looks to Sell $2.2 Billion in Properties

August 19 – UPDATE: According to a recent CNBC update, a spokesman for the Sultan of Brunei has dismissed news that they have made a bid for New York’s Plaza Hotel, Dream Hotel and London’s Grosvenor House hotel.

“Neither His Majesty, the Brunei Investment Agency, nor the government of Brunei are involved in any way in the purchase of the Grosvenor House in London or the Plaza and Dream Downtown hotels in New York,” a spokesman at Bell Pottinger, acting on behalf of the Sultan of Brunei, wrote in an email.

Three luxury hotels, including other properties, are on the block for sale as jailed Indian billionaire Subrata Roy, chairman of the Sahara India Pariwar, desires to cover a US$ 1.6 billion bond to get out of an Indian jail. Lucknow-based Sahara India Pariwar is an Indian conglomerate founded and controlled by Subrata Roy. The Supreme Court of India mentions two of Sahara’s units have failed to pay billions of dollars owed to bondholders.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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