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.

Anbang bulks up with $6.5b Blackstone hotel deal

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.

Blackstone’s fund Blackstone Real Estate Partners VIII completed the acquisition of Strategic Hotels Resorts in December for $6 billion.

Strategic Hotels Resorts is a real estate investment trust Reit which owns and manages luxury hotels...

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