HSBC weighs up sale of Canary Wharf HQ
Thursday 1st October 2009HSBC Holdings is considering the sale of its headquarters in Canary Wharf as part of an initiative to raise funds.
South Korea's National Pension Service fund is reported to be considering making an offer to the global bank.
The financial services provider is considering offers for its property premises on New York's Fifth Avenue and the Champs Elysees in Paris.
A sale of all three is thought to be worth up to $2 billion (£1.25 billion).
A spokesman for HSBC told Reuters: "We can confirm we have received expressions of interest in the properties and we are evaluating those expressions of interest."
The bank began working with CB Richard Ellis on marketing the offices earlier in the year as part of a sale and lease back deal.
HSBC has previously sold the UK-based tower to the Spanish real estate group Metrovacesa in 2007 but bought the building back a year later.
The organisation is expected to confirm the names of the preferred bidders within the next week.
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