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

April 17 (Bloomberg) -- Citigroup Inc.’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

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