Monday, February 14, 2011
GIC offers to acquire five bankrupt Paulson Resorts for US$1.5 billion
Bloomberg, 14 Feb 2011Government of Singapore Investment Corp., a sovereign wealth fund, offered to buy a group of bankrupt resorts owned by hedge fund Paulson & Co. and other investors.The fund has offered $1.5 billion for the five resorts, one of its lawyers, Michael Sage, said in an interview after unveiling the offer at a bankruptcy court hearing today in New York. Full storyRelated:
