McKillen hangs on to 36% holding in hotel group

Belfast businessman Paddy McKillen has retained his 36.4 per cent holding in the Maybourne luxury hotel group in London.

23rd December, 2012

Belfast businessman Paddy McKillen has retained his 36.4 per cent holding in the Maybourne luxury hotel group in London, after participating in a £145 million cash call last week.

The right issues proceeded despite objections from McKillen at board level. McKillen participated to help stop the billionaire brothers Frederick and David Barclay from taking control of the group.

Around £145 million was raised through the rights issue to pay down some of the firms' debts. The...

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