China's Anbang close to completion of $6.5b acquisition of US-based Strategic Hotels

China's Anbang close to completion of $6.5b acquisition of US-based Strategic Hotels

Anbang Insurance. Photo: Bloomberg

Anbang Insurance Group Co. completed most of its $6.5 billion acquisition of Strategic Hotels & Resorts Inc., helping to bolster the Chinese company’s credibility as a global buyer after its abrupt withdrawal from the bidding war for Starwood Hotels & Resorts Worldwide Inc. earlier this year.

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