Seibu confirms hotel portfolio sale to GIC
On June 30, Seibu Holdings confirmed that it would be selling 31 of its hotel and golf facilities to an affiliate of Singaporean sovereign wealth fund GIC. The sale price is 147.1 billion Yen (approx. US$1.09 billion thanks to a historically cheap Yen), with Seibu posting an 80 billion Yen gain on the sale.