RIYADH, Saudi Arabia — The investment firm headed by Saudi billionaire Prince Alwaleed bin Talal says it has sold a majority stake in The Plaza Hotel in New York to a major Indian real estate conglomerate in a $575 million deal.

Kingdom Holding Co. says it will retain 25 percent equity ownership in the landmark hotel, now controlled by a group led by Sahara India Pariwar. A statement Tuesday said Kingdom Holding made $32.9 million profit on the deal.

The 115-year-old Plaza has 282 hotel rooms as well as condominium units and retail space.

Kingdom Holding is a major shareholder in Citigroup and holds stakes in other companies, including News Corp., Apple Inc. and Twitter.

Comments ()

We are now using Facebook comments to offer a more inclusive, social and constructive discussion. Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.

This article filed under

Twitter Talk

Comments

Share Facebook Twitter
- Facebook
- Twitter
- Linkedin
- MySpace
- Delicious
- Reddit
- StumbleUpon
- Digg
- Google Bookmark
- Google Buzz
- Permalink
E-mail

Article sent to (required)
E-mail
Article sent from (required)
E-mail Name

Subject Line (article title)

Message (optional)

Success - Article sent Click to close
Order reprint

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )
Name * Company Telephone * E-mail *
Article Information
Title URL
Message (optional)

Success - Reprint request sent Click to close
Print