PARIS — Commercial real estate firm Unibail-Rodamco said Tuesday it has agreed to sell its 7.25 percent stake in Société Fonçière Lyonnaise to Qatar Holdings LLC for 136.9 million euros, or $188.3 million at current exchange.
This story first appeared in the April 30, 2014 issue of WWD. Subscribe Today.
This corresponds to 40.60 euros, or $55.83, a share ex-dividend, it stated. The transaction will be settled Monday.
Through its Qatar Holding LLC arm, Qatar Investment Authority has racked up luxe and retail properties in recent years. The investment house acquired Harrods for a reported $2.22 billion in 2010 and has since snapped up stakes in LVMH Moët Hennessy Louis Vuitton and Tiffany & Co., among others.
SFL, which bills itself as France’s oldest property company, is listed on the Paris Stock Exchange and operates mainly in the office sector in the central business district of Paris.
Unibail-Rodamco focuses on prime assets such as large shopping centers in major European cities, office buildings in the heart and west of Paris and major convention and exhibition venues in and around Paris.
Separate disclosures will be made to France’s stock market authority AMF and to SFL due to the crossing of legal and statutory shareholder reporting thresholds.