April 26, 2024

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[THE INVESTOR] Samsung SRA Asset Management, a consortium of financial units of Samsung Group, is seeking to acquire OECD’s office building in Paris, the Maeil Economic Daily reported on June 13.

The Samsung consortium plans to create a blind fund worth 500 billion won (US$442.60 million) for the purchase. 

Related:
Samsung consortium buys Commerzbank Tower


Samsung SRA, a wholly owned subsidiary of Samsung Life Insurance, is also funded by Samsung Securities and Samsung Fire & Marine Insurance.

The report said the consortium is expected to be one of the preferred bidders for the deal by the end of this month.

The boards of Samsung Life Insurance and Samsung Fire & Marine Insurance recently decided to fund 170 billion and 80 billion won, respectively, for the deal.

The 35,000 square-meter building, located in western Paris, is currently occupied by OECD’s nuclear energy agency.

The Samsung consortium acquired Commerzbank’s headquarters in Frankfurt, the tallest office building in Europe, for 900 billion won in August last year.

By Song Seung-hyun (ssh@heraldcorp.com)