Woori Finance unit to buy Australian office building

SEOUL, July 9 (Yonhap) -- The brokerage unit of Woori Finance Holdings Co., South
Korea's No. 3 financial group, said Thursday a consortium led by it has won a
preliminary deal to buy a commercial building in Australia for investment
purposes.
Woori Investment & Securities Co. said the consortium has been selected as the
preferred bidder for Telstra Tower in Sydney. The consortium is composed of
domestic financial firms, the company said, but it declined to name the
companies.
The headquarters building of Australian communication firm Telstra is estimated
to be worth 200 million in Australian dollars (US$156.1 million), said the
company
"The final buying price is to be determined after three months of due diligence,"
Woori Investment & Securities said.
The brokerage said it is also mulling purchasing another building in Melbourne,
Australia, for nearly 400 million Australian dollars.
pbr@yna.co.kr
(END)