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Sovereign Wealth Funds Briefing - Categorized | Investment

Abu Dhabi fund buys 31 Accor hotels for $740mln

Posted on 16 September 2013

Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) has bought 31 Accor-branded hotels across major cities in Australia. ADIA’s acquisition of Sydney-based Tourism Asset Holdings Limited (TAHL), Australia’s largest owner of hotels, for about AUD$800m ($743m) will see the properties continue to be managed by the Paris-based operator.
“We chose to run a discreet, targeted sale process and we were very pleased with the response we received, which is a testament to the strength and performance of the underlying portfolio,” said TAHL CEO Matthew Eady………………………………………..Full Article: Source


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