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Mohammed Al Fayed sells Harrods store to Qatar Holdings

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The department store Harrods has been sold for a purchase price of about £1.5bn, the BBC can confirm.

Owner Mohammed Al Fayed has agreed to sell the exclusive west London store to Qatar Holdings.

Ken Costa, who acted as an adviser to the deal, said that Mr Al Fayed was retiring “to spend more time with his children and grandchildren.”

A colorful and controversial figure, Mr Al Fayed acquired Harrods in 1985 following a £615m takeover bid.

Full story: BBC News – Mohammed Al Fayed sells Harrods store to Qatar Holdings