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Sovereign Wealth Funds Briefing - Categorized | Investment

Paulson Resorts to be sold to GIC after auction canceled

Posted on 06 December 2012

Government of Singapore Investment Corp. is set to buy a group of resorts owned by hedge fund Paulson & Co. for $1.5 billion after no competing bidders emerged for the bankrupt properties.
An auction for the properties was canceled after no competing bids were received, leaving GIC, a sovereign wealth fund, as the successful bidder, according to a filing today in U.S. Bankruptcy Court in Manhattan………………………………………..Full Article: Source

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