Qataris now have total control of Maybourne
Just days after Qatari investors bought a 63.8% stake in the Maybourne Hotel Group, they have gone on to buy the remaining share in the company from Northern Irish property investor Paddy McKillen.
The proportion of the company sold last week to Costellation included a 28% share owned by Sir David and Sir Frederick Barclay and a 35.8% stake held by Derek Quinlan, one of the founding shareholders. A four year legal battle centred on the control of the group has now come to an end.
According to an agreement between McKillen and Constellation, McKillen will continue "to lead, direct and develop these assets".
Last year, Constellation paid £301.5 million for the 447-room InterContinental London Park Lane hotel.