Anbang’s Waldorf Astoria purchase hits major snag

US officials looking into security issues and company's long-term plans for iconic hotel

Oct.October 13, 2014 05:20 PM

The U.S. government is investigating Anbang Insurance Group’s $1.95 billion purchase of the Waldorf Astoria hotel last week, citing security concerns.

U.S. officials said the sale could impact the government’s storied relationship with the hotel. The American ambassador to the United Nations resides there, and hundreds of U.S. diplomats stay there during the General Assembly.

“We are currently in the process of reviewing the details of the sale and the company’s long-term plans for the facility,” Kurtis Cooper, a spokesperson for the U.S. Mission to the United Nations, told the Associated Press.

The seller, Hilton Worldwide Holdings, will still operate the hotel for the next century. The deal could be the city’s largest single-asset transaction this year. Anbang beat out at least two other bidders ahead of a planned campaign to market the hotel, as previously reported. [Associated Press via NYP]Mark Maurer

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