Maui Business

Bankruptcy Judge Approves Sale of Grand Wailea

February 25, 2013, 9:43 AM HST
* Updated February 25, 12:13 PM
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The Grand Wailea pool at sunset. Courtesy photo.

The Grand Wailea pool at sunset. Courtesy photo.

By Sonia Isotov

The sale of the Grand Wailea Resort to the Government of Singapore Investment Corporation moved closer to fruition last week.

A US Bankruptcy Court judge in Manhanttan, New York approved the deal, according to reports from Bloomberg press today.

Apparently, the Government of Singapore Investment Corporation, the eighth largest sovereign wealth fund, will also be buying three other US resorts: La Quinta Resort and Club in California, the Arizona Biltmore Resort and Spa in Phoenix and the Claremont Resort and Spa in Berkeley, California.

According to press reports, the deal to buy the four resorts owned by hedge fund Paulson & Company is worth $1.5 billion.

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