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Sovereign Wealth Funds Briefing - Categorized | Investment

GIC to buy Paulson resorts for S$1.8 bln

Posted on 07 December 2012

The Government of Singapore Investment Corp (GIC) is set to acquire a group of resorts owned by hedge fund Paulson & Co for the sum of US$1.5 billion (S$1.8 billion) after no competing bidders emerged for the bankrupt properties.
An auction for the properties was cancelled after no other bids were received, leaving GIC as the successful bidder, according to a filing yesterday in the United States Bankruptcy Court in Manhattan………………………………………..Full Article: Source


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