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Blackstone, Embassy buy Four Seasons Hotel project in Bangalore

Private equity giant Blackstone has agreed to acquire a 50% stake in India's second Four Seasons Hotel project in Bangalore, which was put on sale by majority owner Goldman Sachs.

 Blackstone, which owns the over $10-billion global hospitality firm Hilton Worldwide, stepped in at the last minute to partner developer Embassy Group to clinch an acrimonious deal that was in the making for nearly two years.

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