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Bloomberg reported that Mirae Asset, “Please give me more time” to home insurance.

Anbang Insurance in China, which agreed last year to sell 15 luxury hotels in the U.S. to Mirae Asset Asset Management, filed a lawsuit with the U.S. court demanding Mirae Asset complete the contract, Bloomberg reported on the 27th (local time).

According to Bloomberg News, Anbang Insurance filed a lawsuit against Mirae Asset Global Investment in the Equity Court in Delaware, USA.

The original contract was scheduled to be finalized on April 17, the news agency said, citing sources.

Mirae Asset Asset Management said it signed a contract to acquire 15 hotels in the United States owned by Anbang Insurance last September.,According to Bloomberg, the acquisition price is $ 5.8 billion (about 7.1 trillion won).

The hotel that Mirae Asset will acquire is a real estate purchased by private equity fund Blackstone in 2016, and is distributed in nine US cities.,It includes the JW Marriott Essex House Hotel in New York, the Four Seasons Hotel in Jackson Hall, Wyoming, the Westin Hotel in San Francisco, and the Four Seasons Hotel in Silicon Valley.

Bloomberg said Mirae Asset deposited a deposit of about 10% of the contract amount last September.

The news agency quoted Anbang Insurance as saying that Mirae Asset said it was not securing favorable conditions for financing in the aftermath of the new Coronavirus infection (Corona 19).

The news agency also reported that Mirae Asset requested Anbang Insurance to give more time to conclude the contract because it was not easy to finance the bond (financing through issuance of bonds).

As the customer has plummeted due to the Corona 19 incident, the hotel industry is hit hard, and Mirae Asset’s financing is being disrupted.

Dan is a software developer with experience in designing, development, and delivery of Android apps. His key skills include knowledge of Core Java, JSON & XML Parsing. He's also a keyboardist. So, either you’ll find him at her desk busy in building mobile apps or at a composing music in his home studio. He contributes his ideas on tech at PressReels as an author. You can contact him at Danreels@gmail.com

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