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Starwood Hotels & Resorts Worldwide, Inc. announced that it received a revised binding offer from the consortium led by Anbang Insurance Group.
The flow of outbound investment from China to the rest of the world continues to soar in 2015.
The sale was controversial. There were reports that Anbang benefited from its connections to the Chinese regime.
The sale of New York’s landmark Waldorf Astoria Hotel to a Chinese insurance company raises security concerns.
