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CIC close to deal for purchase of London office park

2013-11-12 08:00 Xinhua Web Editor: qindexing

China Investment Corporation (CIC). China's sovereign wealth fund, is close to a deal with U.S. private equity group Blackstone on the acquisition of an office park in western London, local media reported on Monday.

The talks could be finalized before end of November, according to a Financial Times (FT) report.

According to the FT, the 32-acre Chiswick Park is valued at 800 million pounds. If successful, it would be the real estate deal with the highest value real closed by an investment arm of the CIC.

The deal is described as one of the largest office developments and the highest value real estate purchased made by an investment arm of the CIC.

Chinese investment in Britain rose to 4 billion U.S. dollars in 2012, up 80 percent from a year ago, with London being the destination of 60 percent of China outbound direct investment in Britain.

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