Good morning from London. I have heard from BBC news about Harrods has been sold for a purchase price of about £1.5 billion, thats about $2.2 million. The owner Mohammed Al Fayed has agreed to sell the exclusive west London store to Qatar Holdings.
After 25 years as chairman of Harrods, Mohamed Al Fayed has decided to retire and to spend more time with his children and grand-children, Lazard Chairman Ken Costa said on Saturday.
Al Fayed, who also owns English soccer club Fulham, bought Harrods in 1985 for about 615 million pounds at a time when the group also owned the House of Fraser department store chain, which was later spun off.
via BBC News
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