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Biz News Korea(Eng)
Korea Post to acquire Natixis’ HQ building in Paris for $21 mn
- Collected
- 2016.09.01
- Distributed
- 2016.09.02
- Source
- Go Direct
According to the investment banking industry Wednesday, the postal service operator was chosen as preferred bidder to purchase a building in Paris, France that is fully used for operation of Natixis. Officials flew to Paris in mid-August to study the terms and are expected to reach a deal by the end of this month. Korea Post plans to invest 92 billion in the stake, or 40 percent of the acquisition, and borrow the rest from local lenders.
The building is rented out to Natixis, the core unit of France’s second largest banking group BPCE Group on a 10-year lease. The eight-story complex with three underground floors consists of three buildings with a lease area of 960 square meters and is located in the center of Paris, Montmartre Street. The expected return on the investment is around 6 percent per annum
By Kang Doo-soon and Song Gwang-sup
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