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

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

(Reuters) - The family of Soho China Ltd’s (0410.HK) 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 (GS.N) 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. (

    Reporting By Vrinda Manocha in Bangalore; Editing by Gary Hill

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