China's Anbang to buy Strategic Hotels for $6.5 bn
China economy
New York - Arab Today
Chinese insurer Anbang will buy Strategic Hotels & Resorts for $6.5 billion from Blackstone, which bought the US luxury hotel group three months ago, a person close to the matter told AFP Monday.
The deal was revealed just as news broke that an Anbang-led consortium has also offered $12.8 billion to buy Starwood Hotels & Resorts Worldwide, pressuring Starwood's agreed acquisition by Marriott International.
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