Sale Of Landmark NYC Hotel An Example Of What Triggers
Canadian, U.S. National Security Protocals
New York's Waldorf Astoria hotel is renowned for many
things. An icon of glamour and luxury, the Waldorf Astoria was the
tallest building in the world when constructed in 1931. It's
played host to numerous celebrities and is the reputed birthplace
of such culinary dishes as eggs benedict, Thousand Island dressing,
and of course, the Waldorf salad.
Now the Waldorf Astoria can add one more credit to its
resumé — as a potential national security risk.
Odd as it may sound, when Hilton Hotels Corporation proposed to
sell it to the Anbang Insurance Company of China, the transaction
was reviewed first by the Committee for Foreign Investment in the
United States (CFIUS), a U.S. government agency that vets proposed
transactions for potential national security implications. The
transaction was only given the greenlight to proceed when CFIUS
signed off on it in February.
