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National Pension Service Buys up Landmark Building near Paris

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Monday, September 2nd, 2013
SEOUL, KOREA- The National Pension Service has acquired the main office of Bouygues Telecom, one of the France's top-three telecom service providers, at 260 billion won. According to investment banking sources on September 1, the state-run pension company bought the Bouygues Telecom Tower building located in Issy-les-Moulineaux, a suburban city neighboring Paris, from France's REIT company Les Docks Lyonnais at 173 million euros.
 
In the deal, Hines Emerald Associates, a U.S. real estate developer, has participated as a partner. The two companies had signed the final contract on July 30, with the remaining balance fully paid in early August. The Bouygues Telecom headquarters on the bank of the Seine River is a famous landmark designed by Arquitectonica International Corp. of the United States.
 
Bouygues Telecom has business units in mobile phone, Internet service, and IPTV areas. Its parent company Bouygues S.A. has wide-ranging business interests in such areas as construction (Bouygues Construction), real estates (Bouygues Immobilier), TV (TF1 Group), and energy/transportation (Alstom).

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