The Bank of Scotland and Kingdom, an investment vehicle for Prince Alwaleed bin Talal, has bought the Savoy Hotel in London for about £230m (€330m).

According to a source close to the deal, the purchase was financed with around 55% of debt and the remainder as equity capital.

Bank of Scotland funds half Prince Alwaleed's Savoy Hotel deal

Jamie Felix

Savoy Group

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Company points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.

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The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

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