oa260 From Ireland, joined Nov 2006, 30011 posts, RR: 59 Posted (5 years 12 months 7 hours ago) and read 2951 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 Monaco, joined Feb 2007, 11330 posts, RR: 34
Reply 1, posted (5 years 12 months 6 hours ago) and read 2937 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 United States of America, joined Jun 2003, 4378 posts, RR: 24
Reply 4, posted (5 years 11 months 4 weeks 1 day 16 hours ago) and read 2621 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.
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