Londons most famous store sold!! Brompton Road, London Middlesex England
Londons most famous store sold!!
Published: 22nd June 2010
Mohammed Al Fayed has sold London department store Harrods to the Qatari royal family's investment company for a reported £1.5bn ($2.3bn).
The Egyptian-born tycoon acquired the business in Knightsbridge following a £615m takeover in 1985.
Ken Costa, an adviser to the deal with Qatar Holdings, said Mr Al Fayed was retiring "to spend more time with his children and grandchildren".
He will continue to promote the store in the role of honorary chairman.
But Mr Al Fayed will not be involved in running the company on a day-to-day basis.
