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Singapore's GIC, Host Hotels in property venture |
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By:Jennifer Tan Reuters Tue 25 March, 2008 7:57am EDT
SINGAPORE, March 25 (Reuters) - The real estate arm of the Government of Singapore Investment Corp (GIC) and Host Hotels & Resorts Inc (HST.N: Quote, Profile, Research) have set up a joint venture to pursue investments in Asia and Australia, both companies said in a statement on Tuesday.
Both partners will invest a maximum of $600 million of equity into the venture, with Host Hotels, the largest U.S. hotel real estate investment trust, owning a 25 percent stake. GIC is Singapore's largest sovereign wealth fund.
for more information: http://www.reuters.com/article/companyNewsAndPR/idUSSGC00186020080325
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