Qatar in talks for UK's House of Fraser stake – reports

Qatari investors said to have made a bid for a stake in UK department store
(Getty Images)
By Shane McGinley
Sun 12 May 2013 09:19 AM

Qatari
investors have made a bid for a stake in UK department store House of Fraser,
according to British media reports.

Reports
in the Financial Times and City AM newspapers claimed talks have been held
between the UK retailer and representatives of the Qatari royal family.

Investors
in the 164-year old retailer, which has 60 branches in the UK and Ireland and
went private in 2006, already include Icelandic bank Landsbanki and Scottish
businessman Sir Tom Hunter.

A
spokesperson from House of Fraser declined to comment on the issue when
contacted by Arabian Business.

Qatar
already has a number of high profile British retail investments, including the
$2.3bn purchase of the Knightsbridge-based Harrods department store in 2010 and
a 25.99 percent stake in the Sainsbury’s supermarket chain.

Earlier
this year, Qatar was also linked to a $12bn deal to buy UK retail chain Marks
& Spencer. Other global assets under Qatar’s ownership include an 8.7
percent stake in US jeweller Tiffany & Co, a 17 percent of Volkswagen and a
10 percent in Porsche.

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