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Sovereign Wealth Funds Briefing - Categorized | Investment

Qatar Holding to buy Harrods’ private bank

Posted on 31 October 2012

Harrods’ Qatari owners will buy the luxury store’s private banking arm.The Financial Services Authority in London gave Qatar Holding the green light to purchase the controlling shares in the bank held by a trust.
“A new board has been appointed to support this exciting development,” a spokeswoman for the bank said, adding that she was “delighted” with FSA’s decision. Qatar Holding is an indirect subsidiary of Qatar Investment Authority, the Gulf state’s sovereign wealth fund. In 2010, it bought London’s Harrods for $2.2 billion and financed 95 percent of the British capital’s Shard Tower, Europe’s highest skyscraper………………………………………..Full Article: Source


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