China’s Anbang Insurance Group Co. Ltd. has tapped Skadden, Arps, Slate, Meagher & Flom, Fried, Frank, Harris, Shriver & Jacobson and Greenberg Traurig to lead its proposed $1.95 billion acquisition of the Waldorf Astoria New York hotel.
The 83-year-old Art Deco building, which occupies an entire city block on Park Avenue in midtown Manhattan and comprises 1,415 rooms, is currently owned by Hilton Worldwide Holdings Ltd. It is the flagship hotel of Hilton’s luxury Waldorf Astoria Hotels & Resorts, which also has Asia-based locations in Beijing and Shanghai.
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