Qatar Investment Authority has reportedly taken a minority share in French online retailer Vente-Privée.
Retail Detail Europe said that the Gulf state's investment vehicle has purchased another shareholder’s interest, without naming them.
It is the first online step for the investment fund, despite it already having shares in Volkswagen, Heathrow airport, Barclays Bank, Credit Suisse, Harrods and Sainsbury’s.
The report said the Qatari move is not the only change at Vente-Privée as joint founder Jacques-Antoine Granjon has increased his shareholder stake from 20 to 25 percent.
The French discount web shop currently has about 20 million members across eight European countries.
The retailer had a 2013 turnover of nearly 2 billion euro, the report added.
The site hosts sales of designer brands for members only with discounted prices of up to 70 percent off.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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