Mirae Asset says sued after deadline miss on $5.8 billion Anbang U.S. hotels deal [Reuters]
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Source: Reuters
Mirae Asset says sued after deadline miss on $5.8 billion Anbang U.S. hotels deal SEOUL (Reuters) - South Korean asset manager Mirae Asset Global Investments has been sued over a $5.8 billion deal to buy 15 U.S. hotels from China’s Anbang Insurance Group after missing a deadline for the deal’s closing, a Mirae spokesman said on Tuesday. A consortium led by Mirae agreed last year to buy the hotels in U.S. cities, including in New York, San Francisco and Los Angeles, from Anbang, which had been selling down its overseas assets after the Chinese government took control of the troubled insurer in 2018. The Mirae spokesman said the deal was originally due to be closed by April 17 but has been delayed because certain conditions were not met by the seller. He declined to give details of the conditions and said the Mirae consortium is still pursuing the deal and coordinating with the seller. The Wall Street Journal reported on Monday that China’s Dajia Insurance Group, which has taken over fr
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