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ZURICH, Oct 10 (Reuters) - The asset management arm of insurer Swiss Life is buying Mayfair Capital, a London-based property investment and management company with a portfolio valued at around 1 billion pounds ($1.24 billion), Mayfair said on Monday.
The addition of Mayfair's assets to Swiss Life's real estate investments creates a European property portfolio worth some 55.3 billion pounds, Mayfair said.
Terms of the transaction, expected to close later this year after clearing regulatory approvals, were not disclosed.
$1 = 0.8042 pounds Reporting by John Miller