Abu Dhabi sovereign wealth fund Mubadala Investment Co. increased its stake in the Park Lane Hotel as part of the U.S. government’s effort to recover monies tied to Malaysia’s 1MDB scandal. The sale came after fugitive Malaysian financier Low Taek Jho, known as Jho Low, dropped his claims to the property in a forfeiture lawsuit, Bloomberg News reported. About $140 million for the interest in the hotel was transferred to the U.S. government around Dec. […]
source https://therealdeal.com/2019/02/06/abu-dhabi-fund-ups-stake-in-park-lane-hotel-as-part-of-1mdb-funds-recovery/
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