South Korea’s Mirae Asset, France’s Amundi to buy $964 mln Tour Majunga

03/04/2019 1:07:00 PM (GMT)

A consortium of South Korean financial investment company Mirae Asset Daewoo and French asset manager Amundi has won a bid to buy Tour Majunga, a landmark building in France.

The building is being sold in a transaction worth 1.08 trillion won ($964 million). The Mirae Asset led consortium out beat a South Korean consortium of NH Investment & Securities Co. Ltd. and Hana Financial Investments Co. Ltd.

Both companies will put $396.1 million into the transaction as equity investors, and borrow the remainder from local lenders.

Mirae Asset expects the rental yield from Tour Majunga to reach between 7.5 percent and 8 percent per annum.

Amundi

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