trending Market Intelligence /marketintelligence/en/news-insights/trending/bmsflrcbub7i98uci-8m9q2 content esgSubNav
In This List

Report: AGC Equity Partners mulls sale of Citigroup's London HQ for over £1.2B

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise


Report: AGC Equity Partners mulls sale of Citigroup's London HQ for over £1.2B

Alternative asset investment firm AGC Equity Partners Ltd. is considering to sell the Citigroup Inc. headquarters at 25 Canada Square in London's Canary Wharf district for upwards of £1.2 billion, Bloomberg News reported, citing sources with knowledge of the plan.

The Middle Eastern-backed private equity group acquired the roughly 1.2 million-square-foot skyscraper for £1 billion in 2013, utilizing a £661 million loan provided by Bayerische Landesbank for the transaction, according to the Oct. 16 report. French lender Societe Generale SA refinanced the asset in the summer of 2018, and the sources said the completed deal made the potential sale possible.

Citigroup leases the whole tower and sublets most parts of it to other tenants, the report added.

CBRE is advising AGC on the possible deal. Representatives from both companies declined to comment.

The potential sale will follow the divestments of Goldman Sachs Group Inc.'s new London headquarters for roughly £1.2 billion and the £1 billion disposal of the UBS Group AG headquarters in the capital, according to the news outlet.