March 8, 2013 / 1:00 AM / 5 years ago

China property developer's family in talks to buy stake in GM building -WSJ

March 7 (Reuters) - The family of Soho China Ltd’s chief executive Zhang Xin is in discussions to buy a 40 percent stake in the 1.8 million square foot General Motors building in Manhattan, the Wall Street Journal reported on Thursday, citing real-estate executives familiar with the talks.

The sellers include the sovereign-wealth funds of Qatar and Kuwait, which invested through a Goldman Sachs Group fund, as well as an investor associated with the ruling family of Dubai, the business daily said.

If completed, the deal would value the tower at $3.4 billion, according to the executives, the Journal reported. ()

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below