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AIG wants US$450m for Korean hotel

Published Wed, Nov 19, 2014 · 09:50 PM
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Hong Kong

AIG Global Real Estate, a unit of American International Group Inc, is seeking at least US$450 million from the sale of a luxury hotel in the South Korean capital, people with knowledge of the matter said on Wednesday.

AIG's Korean real estate arm appointed Jones Lang LaSalle Inc to find a buyer for the Conrad Seoul hotel, Michael Choi, a Seoul-based spokesman for the AIG unit, said in an e-mailed response to questions. It is being offered with a long-term hotel management agreement or with vacant possession, giving the buyer an option to run the hotel after the sale,…

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