David and Frederick Barclay will gain control of the parent company of Maybourne Hotels Ltd., owner of London luxury hotels including Claridge’s, a person familiar with the plan said.
The brothers, owners of the Telegraph Media Group Ltd., will buy 35 percent of Coroin Ltd. from Irish property entrepreneur Derek Quinlan to add to the 25 percent holding they purchased last week, said the person, who asked not to be identified because the information isn’t public. London-based Maybourne also owns the Berkeley and Connaught hotels.
The three hotels have been valued by property brokers at 700 million pounds ($1.1 billion) to 1 billion pounds, the Financial Times reported today. A spokesman for the Barclays declined to comment. Paula Fitzherbert, a spokesperson for Maybourne, declined to comment.
The Barclay Brothers aim to own all of Maybourne, the person said, without giving a time frame.
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