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Blackstone to sell US luxury-resort firm to China's Anbang: sources
Published Sun, Mar 13, 2016 · 09:50 PM
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Seattle
BLACKSTONE Group LP agreed to sell Strategic Hotels & Resorts Inc to China's Anbang Insurance Group Co for about US$6.5 billion, just three months after it purchased the US luxury-resort company, according to people with knowledge of the matter.
The price is about US$450 million more than Blackstone paid for Strategic in December.
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