Citigroup HQs sold for £1b
Afp, London
Citigroup's European headquarters in London has been sold to a consortium led by an Irish private-equity company for 1.0 billion pounds (1.48 billion euros, 2.01 billion dollars), the buyers said Monday. The sale of the building, owned by Royal Bank of Scotland but leased to US banking giant Citigroup, is the second largest single-property transaction seen in Britain. The biggest such deal occurred in April, after the HSBC banking group sold its global headquarters in London for 1.09 billion pounds. Both transactions are for the sale of skyscrapers in Canary Wharf, London's modern financial district to the east of the centre. Quinlan Private, an international private equity and real estate group formed by financier Derek Quinlan, has bought 25 Canada Square with the help of the private property company, Propinvest, a joint statement said.
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