TOKYO— Ripplewood Holdings PLC is spending nearly $130.1 million to take over a failed seaside resort in southwestern Japan. It is anticipated that Ripplewood— a New York-based investment firm— will sign a contract tomorrow in which the property’s rehabilitation will be outlined. Seagaia, the resort which features golf courses, an indoor swimming pool, convention center and 43-story hotel, will be remodeled at a cost of $64.2 million over the course of the next four years.
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