Anbang Has the Money for Foreign Deals, Its Chairman Insists

(New York and Beijing) – The chairman of Anbang Insurance Group says it has more than enough capital to fund its overseas investment, comments that come shortly after the insurer raised its bid for a U.S. hotel giant, a move Chinese regulatory officials oppose.

Starwood Hotels and Resorts Worldwide Inc., which owns the Sheraton and Westin brands, had said it had accepted a sweetened offer from Marriott International Inc. for US$ 13.6 billion in cash and stock.