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FINANCIAL NEWS
Paris court halts department store to Qatari group
13 Mar 2014
(MENAFN) The sale of French department store chain Printemps to a group of Qatari investors has been ordered to a halt by a French court, Arabian Business reported.
The court came to the decided to halt the USD2.33 billion sale so it undergoes further consultation with unions.
Earlier last year, a court found that the sale had no irregularities, but an appeal court last week found that procedures around consultation had not been met.
Printemps employs over 3,000 people, working at 16 department stores in the country.
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