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London (AFP) Jan 14, 2011 Hong Kong-based property group Chinese Estates has bought a building in London which houses the European HQ of investment bank Goldman Sachs for 280 million pounds, an intermediary in the deal said Friday. The group run by billionaire Joseph Lau has purchased River Court in Fleet Street, the largest of two buildings which house Goldman's European operations, according to Gresham Down Capital Partners, an investment consultancy. Gresham Down said the deal, worth $445 million or 333 million euros, was "the largest direct purchase by the Chinese in the London commercial market so far". It added that Chinese Estates fought off competition from bidders including US private equity firms and Far East and Middle Eastern sovereign wealth funds.
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Hong Kong ranked world's freest economy: reportHong Kong (AFP) Jan 12, 2011 Hong Kong remained the world's freest place to do business for the 17th year in a row in an annual US league table published Wednesday. The United States lost ground and mainland China came 135th in the table compiled by The Heritage Foundation, a conservative Washington-based think tank, and The Wall Street Journal. Hong Kong, a former British colony which was returned to China in 1997, ... read more |
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