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Spain's biggest property firm sunk by £1bn HSBC office deal!
Andrew64
Posts: 425 Forumite
Either HSBC was pretty smart, or the Spanish company was really stupid!
Spain's biggest property firm sunk by £1bn office deal
http://www.guardian.co.uk/business/2009/feb/23/metrovacesa-canary-wharf-hsbc-tower
"The purchase of HSBS's tower in Canary Wharf - the biggest property deal in British history - has helped sink its Spanish buyer, Metrovacesa."
"The Spanish company sold the tower - 8 Canada Square - back to HSBC last December for £838m, leading to a £250m gain for HSBC and a loss for Metrovacesa."
Spain's biggest property firm sunk by £1bn office deal
http://www.guardian.co.uk/business/2009/feb/23/metrovacesa-canary-wharf-hsbc-tower
"The purchase of HSBS's tower in Canary Wharf - the biggest property deal in British history - has helped sink its Spanish buyer, Metrovacesa."
"The Spanish company sold the tower - 8 Canada Square - back to HSBC last December for £838m, leading to a £250m gain for HSBC and a loss for Metrovacesa."
0
Comments
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I recall thinking at the time the pannish firm bought this it was madness, as indeed I thought about the Germans buying up swathes of the City recently.
I think I read Alan Sugar bought a load of stock at peak to - yet again our so called experts get it all wrong.0
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