| Singapore sovereign wealth fund GIC has sold its entire stake in the Bank of America Merrill Lynch Financial Centre in London for £582.5 million (S$1.2 billion). Norges Bank Investment Management, Norway's sovereign wealth fund, is the buyer of the prime freehold property in London's financial district, said GIC.
The move follows GIC's full acquisition of the RomaEst Shopping Centre - in which it already had a 50 per cent interest - in Italy on Monday. GIC bought the 585,000 sq ft London office property from Merrill Lynch in 2007 for £480 million, beating investors such as Syrian-born tycoon Simon Halabi and Irish investor Derek Quinlan...............................................Full Article: Source
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