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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Financials

Singapore government will buy Grand Wailea, other resort properties

Posted on 07 December 2012

The Government of Singapore Investment Corp. will buy the Grand Wailea on Maui and three other luxury U.S. resorts owned by a group led by New York-based Paulson & Co. for $1.5 billion after no other bidders stepped up to bid on the bankrupt resort properties.
An auction that had been scheduled for Thursday was canceled a day earlier after no other competing bids were received by the Monday deadline, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York in Manhattan………………………………………..Full Article: Source


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