Is Israeli tycoon Yitzhak Tshuva about to sell one of his most impressive properties, the Plaza Hotel in New York? According to a report over the weekend in India's most popular financial newspaper, The Economic Times, the Sahara Group of India is currently in negotiations to purchase the luxury hotel. The estimated price tag: $600 million. Self-made billionaire Tshuva acquired Manhattan's Plaza Hotel in 2004 for $640 million, and invested additional hundreds of millions of dollars on massive renovations. Nevertheless, according to foreign news sources, Tshuva will not lose out on the deal. That is because the acquisition in question is for the hotel and its commercial space, but not for the luxury apartments that take up another part of the building. Those apartments are expected to net Tshuva a huge sum when he sells them. Tshuva's associates had no comment on the report. Overall, it seems that Tshuva is experiencing a particularly happy Passover. On Friday it was announced that his Delek Group had officially discovered a natural gas reservoir. The Tanin 1 gas field, located 120 km from Israel's shore, is not far from the Leviathan gas field. The new well is not as large as the Tamar or Leviathan reservoirs, but is still a significant discovery. The drilling at Tanin cost $50 million and indications are that the field contains about 1.1 trillion cubic feet. This is more than the natural gas contained in the Tethys Sea reservoir, which is close to the point of depletion.
