Qatar to buy stake in HK department store operator

Qatar Holding LLC has agreed to pay USD616 million for about one fifth of Lifestyle International Holdings, a department operator in Hong Kong and mainland China – the latest addition of a high-end retail brand to the sovereign wealth fund’s portfolio.
Lifestyle’s stores include a Sogo branded store in Hong Kong’s bustling shopping district of Causeway Bay and four Jiuguang stores on the mainland.
A unit of Qatar Holding will pay HKD14.75 per share for the 19.9 percent stake, a 1 percent premium to Lifestyle’s last traded price of HKD14.60, the statement added. Qatar Holding will get one board seat on the completion of the transaction.

IMG_1672.JPG

Posted on October 22, 2014, in #international, #retail. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: