Diversified Sahara Group is in talks with US-based Oasis West Realty to buy a majority stake in the Beverly Hilton hotel in Los Angeles for about 19 billion rupees ($341 million), media reports said on Wednesday.
Beny Alagem, the Israeli-American owner of Beverly Hilton, which hosts the Golden Globe Awards, had approached Sahara to sell a 55 per cent stake, reports said, quoting a person with knowledge of the development.
“They had approached us some time ago and we are in negotiations,” Sahara Chairman Subrata Roy Sahara later said.
Sahara, which has interests in media, finance and real estate and sponsors the Indian cricket team, recently bought a controlling stake in New York’s Plaza Hotel for $570 million. It also owns London’s Grosvenor House Hotel.
Published 15 August 2012, 17:00 IST