The Gherkin

Gherkin

Brazilian finance company Safra Group has just spent roughly £700 million ($1.1 billion) to buy one of London's most recognizable buildings: the Gherkin.

Safra is reported to have paid nearly $300 million over the asking price to seal the deal.

This is the latest in a long line of London landmarks to be taken over by foreign investors, many from emerging markets.

China and Qatar buying London properties

When the office block in London's financial district first opened in 2004, people mocked it for its odd shape. It has since become one of the city's most beloved buildings.

First published November 16, 2014: 10:17 AM ET

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