Anbang sells US luxury hotel portfolio to S Korea's Mirae for $5.8b

Anbang sells US luxury hotel portfolio to S Korea's Mirae for $5.8b

FILE PHOTO: The headquarters building of Anbang Insurance Group are pictured in Beijing, China, August 25, 2016. REUTERS/Jason Lee/File Photo

Anbang Insurance Group Co. agreed to sell a luxury hotel portfolio for a little more than $5.8 billion to South Korea’s Mirae Asset Management Co., marking the end of the Chinese insurer’s short-lived investment in the properties.