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BT to sell global headquarters for $260.2 million

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BT to sell global headquarters for $260.2 million
FILE PHOTO: British Telecom (BT)'s headquarters is seen in central London, Britain May 10, 2018. REUTERS/Hannah McKay   -   Copyright  HANNAH MCKAY(Reuters)
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(Reuters) – BT Group on Wednesday said it will sell its global headquarters to a fund managed by European private equity company Orion Capital Managers for £209.6 million ($260.2 million).

The sale of the 300,000-square-foot office, based in central London, includes a 30-month leaseback agreement during which the company will move its headquarters to a new location in the capital, the British telecom giant said.

(Reporting by Shashwat Awasthi in Bengaluru, Editing by Sherry Jacob-Phillips)

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