September 11, 2019 / 1:36 AM / 10 days ago

Consortium led by S.Korea's Mirae Asset to buy 15 U.S. hotels from China's Anbang

SEOUL, Sept 11 (Reuters) - A consortium led by South Korea’s Mirae Asset Global Investments said on Wednesday it agreed to buy 15 hotels in the United States from Chinese insurer Anbang Insurance Group in a deal valued at $5.8 billion.

The hotels are located in New York City, San Francisco and Los Angeles and other U.S. cities, Mirae Asset Global Investments, an asset management arm of Mirae Asset Group, said in a statement.

“The size of the deal is about $5.8 billion and the deal is expected to be closed by end of January next year,” a source with direct knowledge of the deal told Reuters. (Reporting by Heekyong Yang and Ju-min Park; editing by Darren Schuettler)

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