(Bloomberg) -- Morgan Stanley, the biggest property investor among Wall Street firms, agreed to buy 13 hotels in Japan from All Nippon Airways Co. for 281.3 billion yen ($2.4 billion).
The airline will book a one-time gain from the sale in the year ending in March, 2008, it said in a statement today. The book value of the hotels was 150.3 billion yen, the company said.
Read more at Bloomberg Currencies News
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