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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

GIC offers US$1.5 bln for resorts

Posted on 17 February 2011

From Todayonline.com: The Government of Singapore Investment Corp, which has a stake in Hyatt Hotels, has offered to pay US$1.5 billion (S$1.9 billion) for a group of bankrupt resorts owned by investors including the hedge fund Paulson and Co.
GIC seeks to buy five resorts, one of GIC’s lawyers, Mr Michael Sage of Dechert LLP, said, after unveiling the offer at a bankruptcy court hearing yesterday in New York……………………………………….Full Article: Source

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