Qatar to buy Printemps Department Store in Paris
An entity of Qatar Investment Authority is reported by French media to be in advanced negotiations with RREEF, a subsidiary of Deutsche Bank which controls 70% of Printemps, the Parisian luxury department store. Borletti Group, the owners of the minority stake in Printemps have apparently already agreed to sell their stake. It is unclear whether the deal will also include the international licensing operations of Printemps in cities like Tokyo and Beirut.
Real estate experts estimate a sellingb price of 1,6 billion euros of Printemps, which Qatar seems to be ready to pay. Qatar Holding already owns London’s iconic department store Harrods.