Morgans Hotel Group
The hotel group that currently runs stylish and high-end hotels in the US and UK, has just announced plans of building a hotel in Dubai.
September 9, 2008 6:04 by kippreport
Last month, Times reported that two sovereign wealth funds from Dubai and Abu Dhabi were fighting to gain control of the group. Dubai-based Zabeel and Mubadala, the investment arm of the Abu Dhabi government reportedly approached MHG with offers valuing it at around $1.4b including debt.
The group was apparently approached by a number of suitors after it went to financial institutions for raising fresh capital for expansion.