March 28, 2013
InterContinental Hotels Group PLC (IHG) today announces it has agreed to sell InterContinental London Park Lane (?the Hotel?) to Constellation Hotel (Opco) UK S.A., which is an affiliate of Constellation Hotels Holding Limited, a Middle Eastern private investment group. IHG?s leasehold interest in the Hotel has been sold for gross cash proceeds of £301.5m ($457m*), 62% above 31 December 2012 net book value.
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