Sahara India is planning to acquire 85% stake in Sant Singh Chatwal's flagship property Dream Downtown Hotel in New York through its Mauritius based subsidiary Aamby Valley Ltd.
The Chatwal group will retain the remaining 15% stake in hotel, while the existing franchise agreement with the Wyndham Hotel Group to run Dream Downtown will continue to remain in place even after Sahara takes over the hotel.
Dream Downtown has 315 rooms, an expansive rooftop lounge, a beach club and extensive fitness facilities with spa services.
ANZ Banking Group, Australia’s fourth largest bank by market capitalization, is weighing its options to sell a part or entire of its life insurance and pension products unit. The aim of this divestment is to raise capital funds.