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Samsung in Talks to Sell Commerzbank’s City of London HQ

Commerzbank AG Chief Executive Officer Martin Zielke Holds News Conference As Profit Falls On Low Rates
Photographer: Krisztian Bocsi/Bloomberg

Samsung Life Insurance Co. is in talks to sell Commerzbank AG’s City of London headquarters to Singapore-based Wing Tai Holdings Ltd., two people with knowledge of the matter said.

Samsung Life is seeking about 425 million pounds ($548 million) for the 30 Gresham Street building. The terms of the deal haven’t yet been finalized and there’s no guarantee that the transaction will be a completed, the people said, asking not to be identified because the information is private. Investec Plc is the other major tenant in the roughly 400,000 square-foot property that’s close to the Bank of England.