Sold in 1MDB Recovery Effort, Mubadala Increases Stake in Park Lane Hotel
Posted on 02/07/2019
Scandal-plagued 1Malaysia Development Berhad (1MDB), the insolvent Malaysian sovereign fund, used to own a stake in New York’s Park Lane Hotel. As part of the U.S. Department of Justice’s (DOJ) recovery plans, the hotel stake was sold to Mubadala Investment Company for roughly US$ 140 million. The hotel lies on Central Park South between Fifth […]
