China Life in Talks to Sell Stake in London Office Tower to Brookfield

✦ Meridian Analysis

China Life Insurance is reported by the Financial Times to be negotiating the sale of its holding in the 99 Bishopsgate office tower in London to Brookfield. The transaction is at the rumour stage; no definitive agreement, price or percentage of the stake has been disclosed. Brookfield, a Canadian investor, would acquire the stake to lead a planned refurbishment of the tower. Key items that remain undisclosed include the exact size of the stake, the valuation applied, the composition of any financing package and the identity of advisers. Observers will also watch for antitrust clearance, any required approvals from UK planning authorities and the timetable for closing, all of which will shape the final structure of the deal.

The Meridian Weekly