The Financial Times carries an analysis of the Savoy’s sharestructure which has proven an enduring bulwark against acquisition.
The structure is now threatening attempts by Granada to sell thegroup, which it acquired through its takeover of Forte two years ago.Bidders for the hotel group include Blackstone Group, the New York-basedinvestment bank, and a number of real estate investment trusts.
Granada holds 70% of the A shares and 12.5% of the Bs, but has only42% of the votes. The majority of voting shares are controlled by theWontner family. This has frustrated not only attempts at a takeover buthas also hampered the expansion of the brand overseas.
- Financial Times 01/04/98 page 23
