Qatar Holdings to Buy Unibail-Rodamco’s Stake in SFL
(Corrects sale price in second paragraph of story that was published yesterday.)
Qatar Holding LLC, the owner of the Harrods department store in London, agreed to pay 136.9 million euros ($189 million) for Unibail-Rodamco SE’s 7.25 percent shareholding in French property company Societe Fonciere Lyonnaise SA. (FLY)
The sale price is the equivalent of 40.60 euros a share and the deal will be completed on May 5, Paris-based Unibail-Rodamco said in a statement after the market closed today. SFL shares gained 0.8 percent to 36.50 euros.
Unibail-Rodamco, Europe’s largest publicly traded property owner, is focusing on large shopping malls and selling smaller centers and office holdings. SFL invests mainly in Paris office buildings.
SFL’s largest shareholder is Barcelona-based Inmobiliaria Colonial SA, according to data compiled by Bloomberg. Credit Agricole Assurances increased its stake in SFL to 12.3 percent this month from about 5 percent.
Qatar Holding’s assets include a stake in Songbird Estates Plc (SBD), the company that controls east London’s Canary Wharf district.
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