21 February 2019

BOCOM units to buy into Shanghai office tower, WSJ says

Bank of Communications Co. (BOCOM) has agreed to buy a majority stake in an office tower in Shanghai’s Pudong district for US$1.16 billion, the Wall Street Journal reported Monday. The lender will buy a stake in Oriental Financial Center, a 31-story office building under construction in Lujiazui financial district, from Hutchison Whampoa Ltd. and affiliate Cheung Kong (Holdings), the report said, citing people familiar with the matter. The purchase will be made by subsidiaries of BOCOM. 

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