Sir David and Sir Frederick Barclay are thought to be in talks with the owner of the Grosvenor House hotel on London’s Park Lane after offering more than £600m for the property.
Subrata Roy, the head of India’s Sahara Group, has been looking to sell the hotel as well as New York’s Dream Downtown and Plaza hotels in order to raise bail money.
Sahara is thought to have approached various investors over a sale of the hotel ahead of a Monday deadline to pay funds to the Securities and Exchange Board of India.
