Monday, May 10, 2010

Fashion: Harrod's Sells

After owning famed British department store Harrods for the last 25 years, businessman Mohamed Al Fayed has brokered a deal to sell for a reported $2.2 billion. The new owners are Qatar Holding, a private equity firm run by the Qatar royal family, which already owns stakes in London’s Canary Wharf, Sainsbury grocery stores and British bank Barclays. Lazar International, the company that brokered the deal, said in a statement to the press that the billionaire wants “to retire and spend more time with his children and grand-children.”


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