Canary Wharf Group is in discussions with Royal Bank of Scotland (RBS) to acquire over £150 million of debt that backs the Citigroup tower, Financial Times reports. Private investors Glenn Maud and Derek Quinlan acquired the London tower for more than £1 billion in 2007 with loan provided by a consortium of banks.
Canary Wharf is in talks to buy a mezzanine facility provided by RBS as part of the agreement. Jones Lang LaSalle has been appointed to advise on the sale of the tower, which Citi uses as its headquarters for Europe, the Middle East and Asia.
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