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UAE fund in talks to buy stake in hotel group from financier Jho Low: FT

Mubadala Development Co hopes to finalise a deal to buy 50% of Viceroy Hotel Group "within a matter of days"

Published Mon, Jun 19, 2017 · 09:50 PM
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UAE state fund Mubadala Development Co is in talks with the US Department of Justice (DoJ) for approval to buy the rest of the partially-owned Viceroy Hotel Group from Jho Low, a financier linked by prosecutors to Malaysia's 1MDB corruption scandal, the Financial Times (FT) reported on Sunday.

Mubadala hoped to finalise a deal that would need the DoJ's approval to buy 50 per cent of Viceroy Hotel Group "within a matter of days", the newspaper reported, citing one person aware of the matter.

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