London's "Gherkin" has been bought by Safra Group, an investment empire run by Brazilian billionaire Joseph Safra.

Formally called 30 St. Mary Axe, the 180-meter glass office tower was put on the market in July for 650 million pounds (830 million euros, $1 billion).

Bonn, Germany-based IVG Immobilien had acquired the architectural landmark from reinsurance group Swiss Re for 600 million pounds at the height of the property boom. But the German real estate firm had been in default for the past few years, unable to pay back its debts linked to the building's purchase in 2007.

Although Safra Group has not disclosed the financial terms of the agreement, other media outlets reported the cucumber-shaped tower had been sold for 726 million pounds, citing unnamed sources close to deal.

"The acquisition of 30 St Mary Axe is consistent with our real estate strategy of investing in properties that are truly special - at the best locations within great cities," Safra Group said in a statement.

Joseph Safra, 75, is Brazil's second-wealthiest man and has an estimated net worth of some $15 billion.

el/uhe (AFP)