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Chinese Hotel Co. Sells Two Australian Projects For $255M

Law360, New York (January 29, 2018, 5:19 PM EST) -- Wanda Hotel Development Co., a subsidiary of Chinese conglomerate Dalian Wanda Group, said Monday it will sell two Australian luxury hotel and residential property projects to AWH Investment Group Pty. Ltd. for AU$315 million ($255 million) in cash.

AWH Investment Group, a China-backed developer incorporated under the laws of Australia, will purchase a 55 percent interest in the Jewel Resort on Australia’s Gold Coast in the state of Queensland and a 100 percent interest in the Circular Quay luxury hotel and apartments in Sydney, both of...
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