Abu Dhabi Fund Puts Up $800M For Australia Hotel Owner

Law360, New York (September 11, 2013, 3:34 PM EDT) -- Abu Dhabi investment management giant Abu Dhabi Investment Authority will purchase Australia’s largest hotel owner, Tourism Asset Holdings Ltd., for a reported $800 million, the Australian firm said Wednesday.

Abu Dhabi Investment and Tourism Asset entered into an agreement in which Abu Dhabi Investment unit Teal Summer A 2013 Ltd. will buy the hotel owner's assets, including 31 hotels in Australia, according to a Wednesday statement from Tourism Asset that did not disclose the price of the deal. The deal is valued at $800 million, according...
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