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Kuwaiti Company Said to Pay 1.7 Billion Pounds for More London

St Martins, the U.K.-based real estate investment vehicle of Kuwait’s government, bought a London commercial property development for about 1.7 billion pounds ($2.8 billion), according to a person familiar with the transaction.

London Bridge Holdings sold More London, a group of properties next to Tower Bridge that includes the office of London’s mayor, to an unnamed buyer for an undisclosed price, according to a statement from the seller today.

London Bridge called the offer “highly attractive” and described the buyer as a “well established London property owner,” according to the statement.

Reuters reported the buyer and price earlier. Robert Siegfried, a spokesman for Kekst and Company, the public relations firm representing London Bridge, declined to comment on the price and the identity of the buyer. Richard Stocks, a spokesman for FTI Consulting, the public relations firm representing St Martins, declined to comment.

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