Watch Live

Tweet TWEET

Citigroup Tower in London May Be Sold to Chinese Fund, Mail Says

Citigroup Inc. (C)’s European headquarters in London may be sold for more than 1 billion pounds ($1.6 billion) to China Investment Corp., the country’s sovereign wealth fund, the Mail on Sunday reported, without saying where it got the information.

The 42-story building in Canary Wharf, owned by Glenn Maud and Derek Quinlan, was put up on the market earlier this month. The tower generates annual rental income of 57.6 million pounds, according to Jones Lang LaSalle, the property broker conducting the sale.

To contact the reporter on this story: Agnes Lovasz at alovasz@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.