Qatari investors set to acquire French shop

Paris Qatari investors are set to acquire French department store Printemps, according to official documents, the latest big brand in the country by the gas-rich Gulf State. A company called Disa — which groups together Qatari investors — will buy from the shareholding of the 70 percent of the Deutsche Bank and the 30 percent owned by the Luxembourg-based Sunday Group, the document says. The value of the transaction, which must be completed before the summer, was not detailed in the document.

But one media report said that the deal would be worth around EUR 1.6 billion. France has proven attractive to Qatari investors who have bought PSG football club and three percent acquired by energy giant total as commitment in building the firm Vinci and in media Lagardère Group. (AFP)