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Report: Samsung Life Insurance selling Commerzbank's London HQ for £425M

South Korean investment manager Samsung Life Insurance Co. Ltd. is marketing the 30 Gresham St. building in the City of London with a roughly £425 million price tag, Bloomberg News reported, citing a document seen by the news outlet and two people privy to the matter.

Germany-based Commerzbank AG is headquartered at the 400,000-square-foot building and shares it with another bank, Investec PLC, which also takes up space at the premises.

The investment manager engaged DWS Group GmbH to be its adviser on the sale that will be brokered by CBRE Group Inc. and Knight Frank LLP, according to the sources, who wish to remain anonymous.

A comment could not be obtained from DWS and Samsung Life, the June 5 report noted.