ANBANG LOOKS AT IHG

Posted on 08/10/2016 | About China

China's Anbang Insurance Group, which tried unsuccessfully battled Marriott for control of Starwood Hotels & Resorts, earlier this year, is reportedly now considering a takeover of InterContinental Hotels Group.

Anbang, which owns the New York Waldorf Astoria, is reportedly eyeing (about $9.5 billion) takeover of UK based InterContinental Hotels Group. The Sunday Times reported that Anbang executives have been in ‘exploratory’ talks since June, and are looking at a possible a £7 ($12) billion bid. UK based IHG operates several brands including Holiday Inn, Crowne Plaza, Indigo, Kimpton and InterContinental with a portfolio of more than 5,000 properties.