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Sovereign Wealth Funds Briefing - Categorized | Investment

Qatar Holding to buy Printemps for 2 billion euros

Posted on 03 April 2013

A group of Qatari investors is posed to be the most likely new owner of French department store Printemps, after they presented them with an offer reportedly being up to 2 billion euros. Direct competitor Galeries Lafayette has also approached Printemps owners. Printemps is currently 70 percent owned by Deutsche Bank real estate investment unit RREEF and 30 percent by the Borletti Group, which is headed by Italian businessman Maurizio Borletti.
According to Reuters, Borletti and RREEF had been talking to Qatari investors about selling Printemps to investors for circa 2 billion euro. The deal would be executed by Qatar Holding through its Luxembourg-registered Divine Investments (Disa), the operating arm of the nation’s sovereign fund Qatar Investment Authority………………………………………..Full Article: Source


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