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FINANCIAL NEWS
Qatar may acquire France’s Printemps for USD2.09b: FT report
10 Apr 2013
(MENAFN) Qatar is expected to buy Paris department store Printemps for USD2.09 billion via its Luxembourg-based firm Divine Investments, reported Arabian Business citing The Financial Times.
The acquisition will also include Printemps’ chain of 16 stores in France.
The Borletti Group, which holds 30 percent of Printemps, would acquire the remaining 70 percent owned by real estate investment firm RREEF, then, it will sell the whole company to Qatar.
According to Reuters, in 2006, Borletti and RREEF purchased Printemps from French luxury group PPR for USD1.41 billion.
It is worth noting that the investment would be worth USD2.08 billion, including USD717.84 million of debt.
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