oa260 From Ireland, joined Nov 2006, 28310 posts, RR: 60 Posted (5 years 1 month 3 weeks 6 days 15 hours ago) and read 2566 times:
Mohammed Al Fayed sells Harrods store to Qatar Holdings
Mohammed Al Fayed has sold London department store Harrods to the Qatari royal family's investment company for a reported £1.5bn ($2.3bn).
The Egypt-born tycoon acquired the business in Knightsbridge following a £615m takeover in 1985.
Ken Costa, an adviser to the deal with Qatar Holdings, said Mr Al Fayed was retiring "to spend more time with his children and grandchildren".
MadameConcorde From San Marino, joined Feb 2007, 11081 posts, RR: 35
Reply 1, posted (5 years 1 month 3 weeks 6 days 14 hours ago) and read 2552 times:
I saw this earlier today. Why did Mohammad Fayed sell Harrods I wonder?
What has decided him to sell Harrods? I thought he wanted to be buried in a pyramid inside Harrods when he died?
As to the Qatari they are really looking hard to invest. They wanted to buy the whole Société des Bains de Mer here in Monaco - which is owned at 70 % by Prince Albert and the Grimaldi family. The Qatari investment fund got 2,4 % of the SBM which is the largest employer in Monaco with still over 3,000 employees.
I hear that Qatar are still trying to acquire property and businesses in Monaco as they are betting on the Principality as a booming place and tax haven which it is so they are trying to set foot in the Principality. I am not sure how successful they will be. This remains to be seen.
There was a better way to fly it was called Concorde
SOBHI51 From Saudi Arabia, joined Jun 2003, 4082 posts, RR: 23
Reply 4, posted (5 years 1 month 3 weeks 6 days ago) and read 2236 times:
Quoting MadameConcorde (Reply 3): What is the reason for the sale I wonder?
Did Mohammad Al Fayed need an influx of fresh cash?
I am curious to see if he will now sell the Ritz Hotel on the Place Vendôme.
Mr. Al Fayed was involved in the day to day running of Harrods. He was usually in his office by AM daily.
If he is selling Harrods to be with his family then i don't think that the same will apply on the Ritz hotel.
I am against any terrorist acts committed under the name of Islam