Qatar Holdings buys stake in France's oldest property company
In a €136.9 million deal, 7.2% worth of shares in Société Fonçière Lyonnaise have been sold to Qatar Holdings LLC.
Owned by the Qatar Investment Authority, it's a company that has acquired many luxury retail properties in recent years. More recetly, it has bought stakes in LVMH Moët Hennessy Louis Vuitton and Tiffany & Co., among others.
Société Fonçière Lyonnaise, 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.