Chinese capital behind Silesia City Center acquisition

Last Friday, Immofinanz Group informed the company had officially closed the Silesia City Center deal with the Allianz–led consortium. Cushman & Wakefield revealed recently that the sale had also involved Asian partners. According to the PIE magazine, the partner is identified as the Bank of China.

Immofinanz sold the mall for EUR 412 million and said the transaction price had exceeded book value but no more details were given. PIE claims the deal was structured as a 50:50 joint venture and it is the first large-scale investment made by the Chinese capital. The daily „Puls Biznesu” informed today, that the Asian partner is Ginko Tree Investment which might be related with the Bank of China.

Bank of China is one of China’s four state-owned commercial banks. The bank provides personal, business and corporate banking and financial markets services. As of 31st of March 31, 2013, it had total assets of over USD 2,1 trillion.