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Anbang Unit Sues Mirae to Complete $5.8 Billion Hotel Deal (1)

April 27, 2020, 5:46 PM

An Anbang Insurance Group Co. unit sued to force South Korea’s Mirae Asset Global Investments Co. to complete its $5.8 billion purchase of a portfolio of U.S. luxury hotels as the coronavirus pandemic roils financial markets and travel.

The suit was filed under seal in Delaware Chancery Court Monday. In a public summary, officials of the Anbang unit said the suit “seeks an order compelling defendants to specifically perform their obligations under a sale and purchase agreement and certain equity commitment letters.”

The deal was slated to close on April 17, people familiar with the matter said. The Anbang unit ...