Weekly investor roundup: GIC to buy Japanese hotel and leisure property portfolio for $1.3 billion; Korea's KIC invests $1.9 million in Coinbase
GIC will buy a portfolio of 15 hotels and 16 leisure properties from Japan’s Seibu Holdings for $1.3 billion; KIC invests $1.9 million in Coinbase shares; BlackRock CCB Wealth Management has received approval to launch pension wealth management products in Guangzhou and Chengdu; Temasek downsizes holdings in Alibaba while adding new positions in Pinduoduo and JD.com; Former Goldman Sachs banker Roger Ng to stand trial for role in 1MDB scandal; and more.
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GIC is set to buy a portfolio of 15 hotels and 16 leisure properties from Japan’s Seibu Holdings for $1.3 billion.
Seibu and the Singapore sovereign wealth fund are scheduled to enter into a formal sale and purchase agreement in May which will finalise the list of assets and other terms of the transaction.
The assets are held under Seibu’s unit Prince Hotels portfolio and include the Prince Park Tower Tokyo, the Sapporo Prince Hotel and The Grand Prince H…
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