Private equity giant Blackstone Group Inc. chose a consortium led by South Korea-based Hana Financial Investment Co. Ltd. and London-based asset management firm AGC Equity Partners Ltd. as the preferred bidder for The Squaire commercial complex in Germany, Maeil Business News Korea's Pulse reported, citing investment banking sources.
The consortium is poised to buy the 140,000-square-meter property linked to the Frankfurt International Airport for approximately 1.3 trillion South Korean won, sources said.
The parties are set to sign a final deal by September-end or early October, according to the report.
The property's tenant base includes French tire maker Michelin, multinational consulting firm KPMG, German air carrier Rufthansa, IT service provider Atos and Hilton Hotel.
As of Sept. 16, US$1 was equivalent to 1,184.19 South Korean won.
