BHP giving up 4 floors in MBFC

BHP Billiton, the world’s biggest mining company, is giving up four floors in Singapore’s central business district as it prepares to spin off much of its metals production, according to a person familiar with the matter.

BHP, which has about 230,000 square feet of office space at Marina Bay Financial Centre Tower 2, is looking to vacate about 100,000 sq ft, said the person, who asked not to be named as the discussions are private. The company will rent two floors with an area of about 40,000 sq ft at CapitaLand’s new office tower CapitaGreen, the person said.

BHP plans to split off assets including its silver, manganese and aluminum operations into a newly formed company called South32 Ltd. to focus on larger businesses such as iron ore. BHP and South32 marketing teams will be based in separate offices in Singapore, according to an e-mailed response to queries from Bloomberg News.

A lease has been entered into for the CapitaGreen building, BHP said in the statement, without saying how much space it would take.

– See more at: http://www.straitstimes.com/news/business/property/story/bhp-said-be-vacating-four-floors-marina-bay-financial-centre-tower-2-20#sthash.MbUwAyio.dpuf

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