ANA Group announced the sale of its 14 hotel subsidiary companies, including 13 hotels, to YK Shiroyama Properties, a fund managed by Morgan Stanley, for ¥281.3 billion ($2.36 billion). The company had revealed its intention last December to dispose of the hotels (ATWOnline, Dec. 13, 2006). It said the asset transfer "is expected to give rise to an extraordinary profit for the financial year ended March 31, 2008," and that it will reveal the exact effect on its anticipated results once ...

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