BP in Discussions to Sell Its London Headquarters, Report Says

Once considered a leading name in British industry, struggling energy major BP (NYSE: BP) is trying to divest a glitzy asset: its London headquarters. 

Quoting "people familiar with the matter," The Wall Street Journal is reporting that the company aims to reap around 250 million British pounds ($325 million) for the structure. It aims to sell it to a Hong Kong-based company called Lifestyle International Holdings (OTC: LFSYF). An unnamed BP spokesman told the newspaper that it wants to divest it in a sale-leaseback deal, subsequently occupying it as a tenant.

Lifestyle International did not comment on the talks.

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Source Fool.com