How to replace string in angular 2?

You can use a pipe for the same:

import { Pipe, PipeTransform } from '@angular/core';
@Pipe({name: 'replaceLineBreaks'})
export class ReplaceLineBreaks implements PipeTransform {
  transform(value: string): string {
    return value.replace(/\n/g, '<br/>');
  }
}

The pipe must be included in your @NgModule declarations to be included in the app. To show the HTML in your template you can use binding outerHTML.

<span [outerHTML]="config.CompanyAddress | replaceLineBreaks"></span>

{{}} is for string interpolation and the result will always be added as String. The binding doesn't work at all in this case because of the < and > contained in the expression, the {{}} are not interpreted as expected.

<div [innerHTML]="replaceLineBreak(config.CompanyAddress) | safeHtml"></div>

with

replaceLineBreak(s:string) {
  return s && s.replace('\n','<br />');
}

should do what you want. As mentioned by @hgoebl replaceLineBreak could be implemented as pipe as well if you need it at several places.

Plunker example

Hint: It's discouraged to bind to methods directly, because the method is called at every change detection cycle. A pure (default) pipe is only called when the input value changes. Therefore a pipe is more efficient.

Another way is to do the replacement only once and bind to the value with the replaced line breaks instead of calling replaceLineBreak repeatedly.

Hint: You probable want to replace all line breaks, not only the first. one. There are enough JS questions out there that explain how to do that, therefore I didn't bother.