Qatari Diar, a unit of the Gulf State's sovereign wealth fund, has reportedly postponed the acquisition of HSBC's Paris headquarters, French paper Business Immo reported in its online edition. It remains unclear whether the transaction has really only been postponed or has actually been cancelled, the paper said.
Qatari Diar, a unit of the Gulf State's sovereign wealth fund, has reportedly postponed the acquisition of HSBC's Paris headquarters, French paper Business Immo reported in its online edition. It remains unclear whether the transaction has really only been postponed or has actually been cancelled, the paper said.
The news of the sale of the 35,000 m2 office building in Paris' Champs-Elysées was first reported by the French daily Agefi on Thursday. The transaction price was said to be around EUR 400 mln. The paper reported that the bank intends to remain in the facility for another three years, after which the ground floor would be transformed into a retail gallery and the rest of the building into a luxury hotel.
In September, HSBC was rumoured to be seeking sell off its London, Paris and New York headquarters. At the beginning of October the British banking giant agreed to sell its New York head office to Israeli investment holding company IDB Group for $330 mln (EUR 224 mln) in cash.
