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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Morgan Stanley | NYSE:MS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.14 | 0.15% | 90.98 | 91.65 | 90.73 | 91.43 | 662,698 | 16:05:03 |
From May 2019 to May 2024
By Esther Fung
SHANGHAI--China's sovereign-wealth fund China Investment Corp. is purchasing a portfolio of nine office towers in Sydney and Melbourne from a real estate unit of Morgan Stanley (MS), continuing its overseas acquisitions to diversify its massive foreign-exchange holdings.
CIC International Co., a unit of the state-owned fund, has exchanged contracts with Morgan Stanley Real Estate Investing to purchase the office towers, eight in Sydney's central business district, and the remaining one in Melbourne, the U.S. investment bank said in a statement. The deal is subject to regulatory approvals, including from the Australian Foreign Investment Review Board.
The Australian Financial Review reported that CIC had put in a A$2.45 billion ($1.79 billion) bid for the portfolio, which is managed by Investa Property Trust.
Earlier this month, CIC together with affiliate AEW Europe bought eight shopping centers in France and two malls in Belgium for about EUR1.3 billion ($1.44 billion) from CBRE Global Investors.
Write to Esther Fung at esther.fung@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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