French company Fonciere des Regions has bought the “Gan Tower” in La Defense, Paris for €486m (£328m) from insurer Groupama.

The 187m tall building has a total surface area of 64,500 sq m spread over 49 floors. Groupama will moved out of the building in March next year. Fonciere plans to undertake a full redevelopment of the tower tthat will be completed by the end of 2010.