News

Harrod’s sale may prime the pump for U.K. retail market

May 9, 2010

According to Bloomberg Businessweek.com, Qatar Holding LLC’s 1.5 billion-pound ($2.2 billion) purchase of Harrods Ltd. could be a harbinger for more investment in the United Kingdom’s retail industry as foreign buyers take advantage of an upswing in consumer-spending and a falling pound.

The Harrod’s blockbuster is the biggest deal in U.K. retailing since the 11.1 billion-pound takeover of Alliance Boots Plc three years ago, according to Bloomberg, and there were about $1 billion of transactions in all of 2009.