After the sale of Credit Suisse’s Zurich headquarters to the city of Zurich fell through, the buildings could go to South Korean companies.
Norway's sovereign wealth fund, which is the current owner of the office complex Uetlihof, has been reportedly looking to sell the buildings since February. And now, South Korean firms IGIS Asset Management and KB Securities have been selected by the owner as «preferred bidders» to acquire the site, as South Korean newspaper «The Korea Economic Daily» reported Thursday.
IGIS Asset Management is South Korea's largest real estate group with assets under management of over $45 billion and KB Securities is one of the country's largest investment banks. As finews.com previously reported, the owners' asking price is said to be 1.3 billion Swiss francs.
(image: Credit Suisse)
Earlier this year, Zurich's city council rejected a supplementary loan of 1,2 billion Swiss francs to finance the real estate object.
The complex consists of one 13-story building and a second 17-story building occupied by 8,500 Credit Suisse employees.
