Anbang bulks up with $6.5b Blackstone deal

Anbang bulks up with $6.5b Blackstone hotel deal

The Chinese insurer is set to acquire Strategic Hotels & Resorts from the US private equity firm, according to a source.

Luxury resort Fairmont Scottsdale Princess bought by Strategic Hotels & Resorts in 2006.

Alison Tudor-Ackroyd

March 14, 2016

Anbang Insurance Group is set to acquire Strategic Hotels & Resorts from Blackstone for $6.5 billion, according to a person familiar with the matter on Monday, the latest deal in a global acquisition binge by the Chinese insurer.

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#acquisitions
#fig
#property
#blackstone