An asset management arm of South Korea’s JB Financial Group said Friday it has purchased the headquarters of Italian energy firm ENI for 200 million euros ($232 million) as part of its efforts to expand global investments.

JB Asset Management has been expanding its infrastructure investment fund overseas since last year, making 300 billion won ($250 million) investment in gas–fired combined cycle power plants in New England and Ohio in the US.

Earlier this month, JB forged a partnership with European insurer Victtoria to acquire ENI’s office building in Milan, jointly owned by York Capital Management and Stoneweg, it said in a statement.

The 11-story building with 66,385 square meters floor space is under a 17-year lease contract with ENI that ends in 2032, it added.

(khnews@heraldcorp.com)