Fidelidade, an insurer controlled by Shanghai-based Fosun International Ltd., is weighing the sale and leaseback of a building in Lisbon that it plans to use as its new headquarters.
The company will give up its current base near Lisbon’s Chiado neighborhood and move operations to a plot of land further from downtown that used to house an amusement park. Fidelidade bought that land for €274.2 million ($300 million) in 2018.
The building that will eventually be used for the new headquarters is still under construction.
Portuguese news website ECO.pt reported earlier on Tuesday that Fidelidade was seeking more than €200 million for the sale of the unfinished building, citing unnamed sources. Amancio Ortega, founder of affordable fashion firm Inditex SA and Spain’s richest person, is interested, according to the site.
Fidelidade, however, has said that no negotiations are underway and that the figures mentioned by ECO.pt are “pure speculation.”
An official at Pontegadea, an investment company controlled by Ortega, declined to comment.
Fosun holds an 85% stake in Lisbon-based Fidelidade while Portuguese state-owned bank Caixa Geral de Depositos SA owns the remaining 15%.
Photograph: An old city tram in the Chiado district of Lisbon, Portugal. Photo credit: Thomas Meyer/Bloomberg
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