The Asticus unit of Germany's IVG Immobilien has won the battle to buy the landmark 'Erotic Gherkin' skyscraper in the City of London from reinsurer Swiss Re for close to £600 mln (EUR 891 mln), UK newspaper Sunday Times has reported. Without citing any sources, the paper said Swiss Re is expected to make a £200 mln profit on the sale of the building. A spokesperson for IVG declined to comment on the report.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
