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Pakistani billionaire buys Mayfair hotel
Pakistani entrepreneur Mian Muhammad Mansha has acquired the luxury St James's Hotel & Club in London in a deal believed to be worth around £60m.
The 60-bedroom boutique hotel is currently managed by Althoff Hotels.
Property agents Savills and Gerard Nolan & Partners acted on behalf of the hotel's previous owner - an unnamed UK property company.
It is expected that Mansha will invest in redeveloping and rebranding the hotel, although no details have been announced.