October 1, 2014 / 3:28 PM / in 3 years

Singapore's GIC to invest over 200 mln euros in Spanish property firm

SINGAPORE, Oct 1 (Reuters) - Singaporean sovereign wealth fund GIC has agreed to pay more than 200 million euros ($252 million) for a 30 percent stake in unlisted Spanish real estate firm Gmp, the two companies said in a statement on Wednesday.

“As a long-term value investor, this is a good opportunity for GIC to gain access to a large and diversified office portfolio in Madrid and leverage on Gmp’s local expertise to grow our exposure,” said Chris Morrish, regional head of Europe at GIC real estate. (1 US dollar = 0.7932 euro) (Reporting By Aradhana Aravindan; editing by David Clarke)

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