Domestic

SouFun plans to buy former AIG building in US

(Agencies)
Updated: 2010-12-24 09:11

SouFun Holdings Ltd, a Beijing-based operator of home-furnishings websites, agreed to buy a Lower Manhattan building once owned by American International Group Inc for $46 million, Bloomberg News reported Friday.?

SouFun plans to purchase 72 Wall St, which once served as AIG's training center, according to a statement issued?on Dec 23?by the company, the report said.?The deal on the 250,000-square-foot building may be completed in the first half of 2011, the report cited?SouFun as saying.

Related readings:  PE firms to invest in SouFun  AIG raises $17.8b in AIA IPO  AIG Asia unit float in HK aims to raise $15b  China Life has no plan to buy into AIG

"SouFun plans to use the former AIG training center as its own global training center to train its expanding management, staff and clients," according to the company statement.

AIG, the global insurance company bailed out by the US government in 2008, sold the building in 2009, it said.