ADIA to pay US$1.2 billion for50 % stake in3 Hong Kong hotels

Abu Dhabi Investment Authority, ADIA, Abu Dhabi’s sovereign wealth fund, has agreed to pay US$1.2 billion (HK$9.25 billion), including debt, to buy a 50 % stake in three Hong Kong hotels owned by billionaire Cheng Yu-tung, in the latest Middle Eastern investment in the city through syndicated loan that’s related to the acquisition of three luxury hotels in Hong Kong in 2015 from a group led b