Qatari investors linked to the Irish developer, Paddy McKillen have bought out the interests of McKillen’s rivals for control of three premium London Hotels for a reported price of €1bn.

The State-owned Abu Dhabi Investment Authority has purchased a 64 percent stake in Coroin Ltd, the company which owns Claridge’s and the Berkeley and Connaught Hotels, from the British property tycoons, the Berkeley Brothers and their Irish property developer ally, Derek Quinlan.

The deal brings to an end a five-year court battle for control of the hotels after the Berkeley Brothers first acquired debts linked to the properties in 2010 from NAMA and other investors.

McKillen will continue to hold 34 percent of the hotel group following the deal.