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Mubadala in talks to buy stake in Viceroy Hotel Group

Mubadala in talks to buy stake in Viceroy Hotel Group
Mubadala hoped to finalise a deal to buy 50% of the hotel group "within a matter of days”
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Abu Dhabi – Mubasher: UAE state fund Mubadala Development Co is in talks with the US Department of Justice for approval to buy the rest of Viceroy Hotel Group from Jho Low, Reuters reported.

Mubadala hoped to finalise a deal, which would need the department's approval to buy 50% of the hotel group "within a matter of days”, the news agency added.

The justice department filed complaints on Thursday seeking to recover $540 million allegedly stolen from 1MDB, in the latest legal action tied to alleged money-laundering at the fund that brought the total claims by the department to more than $1.7 billion.