The chateau-like Plaza is a New York landmark, known as the home of the children’s book character Eloise. Drew Angerer/Getty Images/AFP
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Ashkenazy Acquisition Corp. and Saudi Prince Alwaleed bin Talal's Kingdom Holding Co., the investors trying to buy New York's historic Plaza Hotel, sued the property's majority owner for allegedly reneging on an agreement that gives the group the right to match another offer. Sahara U.S. Corp., which owns a 70 percent stake in the hotel, demanded a second deposit and has been negotiating with other parties, according to a complaint filed in New York state court Friday. Minority investors Ashkenazy and Kingdom earlier this month exercised their right of first refusal on a $600 million bid for the property to instead try to purchase it on their own.
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