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.


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

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