NEW YORK: A Chinese insurance company has bought Hiltons landmark luxury hotel, the Waldorf Astoria New York, for US$1.95 billion (RM6.36 billion), the hotel giant said on Monday. Anbang Insurance Group has agreed œto restore the property to its historic grandeur and will allow Hilton to manage the property for the next 100 years, Hilton Worldwide Holdings said. Anbang is based in Beijing and has more than 30,000 employees. Hilton shares fell 0.5 per cent, closing at US$24.21 on the New York Stock Exchange. APF
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