Saudi Prince May Purchase $300m Shell Mex House
Saudi billionaire Prince Al Waleed bin Talal, who has more than $400 million to spend, may snap up Shell Mex House in central London, reported the Gulf Daily News on Thursday.
The paper quoted the London-based Al Sharq Al Awsat daily as saying that the prince was in hot competition with British investors to acquire Shell Mex House, which overlooks the Thames River and stands a short distance from the plush Savoy Hotel.
Shell Mex, sold by Royal Dutch Shell to a US investor for around $283.9 million almost two years ago, was now on the market, the paper said.
The building currently houses some Shell oil trading and shipping operations.
The prince’s spokesman was unavailable for comment when contacted by the Gulf Daily News.
Prince Al Waleed is bidding to buy Berkeley Square, one of London’s most prestigious addresses, but the deal is not yet finalized.
He sold a 4 percent stake in British property company Canary Wharf for $178 million in January, withholding his remaining 2 percent.
He spent $65 million to acquire 6 percent of Canary Wharf in 1995, the paper added.
Prince Al Waleed, a successful businessman and nephew of King Fahd, is ranked by Forbes magazine as the richest businessman outside the US – Albawaba.com