AIG wants US$450m for Korean hotel
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, one of the people said, asking not to be named as the matter is private.
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