Harrods sold to Qatar Holding

Al Fayed family trust sells luxury department store.
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Qatar Holding is the new owner of luxury department store Harrods.

Ahmad Mohamed Al-Sayed, MD and CEO of Qatar Holding, said: "We are happy to acquire Harrods, a unique company that combines an iconic luxury brand and one of the most prestigious retail properties in the world with best-in-class financial metrics.

"This acquisition further expands our global portfolio of world leading companies.

"We are delighted to announce that Mohamed Al-Fayed has accepted our invitation to become honorary chairman of Harrods. We look forward to working with Michael Ward, Harrods' MD, and the outstanding team that Mohamed Al-Fayed has assembled to continue to maintain Harrods as the world's pre-eminent luxury retailer."

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