Insurance group Groupama is reportedly planning to sell a building on Paris' flagship shopping street Avenue des Champs Elysees for over EUR 500 mln.
Insurance group Groupama is reportedly planning to sell a building on Paris' flagship shopping street Avenue des Champs Elysees for over EUR 500 mln.
The French firm has hired Jones Lang LaSalle to market the building located at 52 Avenue des Champs Elysees, according to a news report by Bloomberg. The building dates back to the 1930s, and includes a Virgin Megastore, a Monoprix supermarket, a shopping gallery as well as some office accommodation.
Groupama, which earlier this year sold its stake in listed business park specialist Silic, put the asset on the market after incurring heavy losses as a result of writedowns on its Greek government bonds.
