CFIUS Clears $1.95B Waldorf Sale To Chinese Insurance Co.
Law360, New York (February 2, 2015, 2:28 PM EST) -- Hilton Worldwide Holdings Inc.’s blockbuster deal to sell the iconic Waldorf Astoria New York hotel to Chinese insurance company Anbag Insurance Group Co. Ltd. for $1.95 billion has cleared the Committee on Foreign Investment in the U.S.'s review, the buyer announced Monday.
Beijing-based Anbang’s acquisition of the Waldorf Astoria has been formally approved by CFIUS, according to a translated statement, which means that the deal has completed all relevant reviews, the insurance giant said.
Representatives for CFIUS and Hilton could not immediately be reached for comment.
The approval comes about four months after Hilton announced the sale, which is the largest single-asset hotel...
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