The Bank of Scotland has sold its stake in the U.K. luxury hotel operator, Maybourne Hotel Group, Financial Times reports. The owners of the Telegraph newspaper group, David Barclay and Frederick Barclay, are the new stake holders of the hotel group.

The Barclay brothers have acquired a stake in the hotel group’s debt to support their bid to control its equity. The €2.1 billion of loan includes some of the debts behind the hotel group, in which Paddy McKillen, owns a larger stake.

Click here for the story from Financial Times.