Mega hotel deal: Blackstone selling luxury hotels to China insurer

March 13, 2016 3:11 PM

13 0

NEW YORK—Blackstone Group is about to check out of Strategic Hotels & Resorts in a $6.5 billion sale to China's Anbang Insurance Group. USA TODAY confirmed the transaction with a source familiar with the deal who requested anonymity.

The private equity firm only completed its $3.93 billion transaction of Strategic Hotels in December. That deal included debt.

Also read: Noble Buys Clayton for $2.7 Billion to Expand in Permian

Read more

To category page

Loading...