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Qatari investors seeking majority in stake in French retailer
- Qatar: Thursday, February 21 - 2013 at 03:24
Qatari investors and Italy's Borletti Group are in talks with Deutsche Bank's real estate investment unit, RREEF, to acquire its stake in French department store group Le Printemps, Reuters has reported. Printemps is 70% owned by RREEF and 30% by the Borletti Group. A source close to the matter had said that both Borletti Group and RREEF had nearly reached a deal with Qatar which valued Printemps at around €2bn ($2.7bn). RREEF and Borletti bought Printemps from French retail and luxury giant PPR for €1.1bn ($1.47bn) in 2006.
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