Waldorf Astoria Deal Is Likely Headed For CFIUS Review
Law360, New York (November 3, 2014, 11:48 AM EST) -- The Committee on Foreign Investment in the United States is likely to scrutinize the recently announced $1.95 billion acquisition of Hilton Worldwide Holdings' Waldorf Astoria Hotel in New York by the Anbang Insurance Group (China) to determine the national security implications, if any, of the transaction. Although such implications are not readily apparent, reports suggest that there are issues that CFIUS may seek to review prior to the deal's closing.
As part of the terms of sale, Anbang and Hilton Worldwide plan to enter into a management agreement pursuant to which Hilton Worldwide will operate the property for the next 100 years....
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