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FINANCIAL NEWS
Qatar offers to buy stake in UK’s House of Fraser: Reports
12 May 2013
(MENAFN) Representatives of the Qatari royal family have submitted an offer to acquire a stake in House of Fraser, the UK department store, reported Arabian Business citing reports by the Financial Times and City AM.
The 164-year old retailer, which went private in 2006, has 60 branches in the UK and Ireland.
The tiny Gulf emirate already owns stakes in several British retail investments, including Harrods department store and the Sainsbury’s supermarket chain, and reports earlier this year claimed that Qatar plans to pay USD12 billion to purchase retail chain Marks & Spencer.
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