Qatar Holdings to Buy Unibail-Rodamco’s Stake in SFLNeil Callanan
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.
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, the company that controls east London’s Canary Wharf district.