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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Lone Star reopens Tokyo property deal as GIC talks stall

Posted on 16 July 2014

Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter.
GIC earlier this year agreed to buy Meguro Gajoen, an office complex and a wedding hall, for about $1.3 billion which, if finalised, would be one of the largest property deals in Tokyo since the 2008 financial crisis. GIC, however, is now cautious about completing the sale due to a lawsuit filed in April by the family of Meguro Gajoen’s founder, Rikizo Hosokawa, said the sources, who declined to be named because the matter remains confidential………………………………………..Full Article: Source


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