The billionaire Barclay brothers sold their 10.4 percent stake in InterContinental Hotel Group Plc for 335 million pounds ($520 million) on Tuesday, sending shares in the world’s biggest hotelier down sharply.
The owner of the Holiday Inn and Crowne Plaza brands as well as the InterContinental chain said the Barclay brothers’ investment vehicle Ellermann Corp had sold its entire 29.9 million share stake.
The statement confirmed what traders had earlier told Reuters…more