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Barclay Brothers Close to Deal on Maybourne Hotels, Times Says

Feb. 20 (Bloomberg) -- David and Frederick Barclay, owners of the Telegraph Media Group, are close to an agreement to gain full control of the Maybourne Hotels Ltd., the Sunday Times said, without saying where it obtained the information.

The brothers last month bought a 24.8 percent stake in Coroin Ltd., the parent company of Maybourne, owner of London’s Claridge’s, Berkeley and Connaught hotels. The Barclays are in discussions to buy out the interests of other shareholders Paddy McKillen, Derek Quinlan, and Kyran McLaughlin, the newspaper said.

An agreement may be reached in the next few weeks, the newspaper said.

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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