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Waldorf Astoria Hotel In New York City, Bought By Anbang For $1.95B In 2014
Anbang chairman Wu Xiaohui has canceled his scheduled appearance at the National Association of Real Estate Investment Trusts’ annual conference in NYC this week.
The conference is being held at Anbang’s NYC trophy property, the Waldorf Astoria, but Wu says he cannot attend due to other businesses engagements, Bloomberg reports. His change of heart keeps in line with Anbang’s recent low profile, ever since the company pulled back on its proposed $14B buyout of Starwood Hotels & Resorts.
Anbang has come under scrutiny at home for its huge oversees purchases—so much so that it was recently under investigation by China’s Insurance Regulatory Commission. [Bloomberg]
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