In a deal thought to be worth £165m, Blackstone, the private equity behemoth, is preparing to buy the headquarters of the Financial Conduct Authority (FCA), it has been reported.
The FCA, which monitors the city’s financial institutions, announced earlier this year that it will move out of the building when its lease expires in 2018, after nearly two decades at the location. Its 3000 staff will be moved into the International Quarter, a 22-acre, £2 billion development next to the Olympic Park. The decision was welcomed by the area’s developers, the publicly-owned London and Continental Railways (LCR) and Australian company Land Lease, who hope to transform the area in Stratford into a new office district.
The offer placed on 25 North Colonnade in Canary Wharf is thought to be around £15m below the original asking price set by Evans Randall, the current owners, who put the property on the market in March. The deal is likely to come as a relief to the embattled landlord, which failed to repay a loan of £205m in October 2013.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
Chicago based Treasury Management System (TMS) vendor GTreasury and Sydney based risk and treasury management vendor Visual Risk have joined forces in a strategic alliance to ... read more
"Uncertainty is the enemy of deal-making", so it's no surprise that Europe and the Asia Pacific's insurance industry saw merger and acquisition deals fall in the first half of 2017.
One in five countries is set to hit their highest government debt levels in 17 years predicts Fitch, although there has still been a dramatic improvement in sovereign credit.