Sahara India Pariwar Buys Grosvenor House Hotel, Times Reports

Sahara India Pariwar will buy the Grosvenor House Hotel on London’s Park Lane for about 470 million pounds ($757 million), the Sunday Times reported, without saying how it obtained the information.

Royal Bank of Scotland Group Plc, owner of the property, previously sought 700 million pounds for it, lowering its aim after two previous auctions failed, the newspaper said.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net