Harods sold to Quatar Royal Family
Tycoon Mohamed al Fayed has sold the famous Harrods store in London for the huge amount of 1.5 billion pounds (1.7 billion euros).
According to Sky News, the buyer is Qatar Holding, a company controlled by the royal family of Qatar.
Al Fayed had owned Harrods since 1985. The magnate, who owns Fulham football club (Premier League) decided to sell Harrods in order to spend more time with his family, says a press release.
Harrods is one of the world’s most famous stores. Extended over seven floors, the store is visited annually by 15 million people.
Harrods had 5 owners in 170 years. Egyptian tycoon bought Harrods in 1985 for 615 million pounds. Between 2002 and 2006, Al Fayed has received numerous offers for Harrods, but refused each one of them.
The deal was confirmed today by investment bank Lazard International, which brokered the deal. Lazard chairman, Ken Costa, said in a press statement that Al Fayed is convinced that the new owner will continue the tradition of Harrods.
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Posted by AnnabelleLion on May 8 2010 Filed under Europe, Uncategorized. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
