Headlines

Qataris Interested in Marks & Spencer

Gulf state’s investment authority is reportedly putting a $12 billion consortium together

Published

11 years ago

March 18, 2013

VMSD Staff

The Qatar Investment Authority is reportedly considering a bid to acquire British department store chain Marks & Spencer Plc (London).

According to a report in the Sunday Times of London, QIA is talking to private equity companies and banks with an eye to forming a consortium. The Times said the bid would be worth £8 billion, or $12.08 billion at current exchange rates. But, said the paper, no one has yet approached M&S.

The Gulf State’s sovereign wealth fund made headlines recently by increasing its investment stake in Tiffany & Co. (New York) to 7.8 percent. It also spent $2.2 billion in 2010 for control of London luxury retailer Harrods and has a 26 percent stake in British food retailer J. Sainsbury and a 1.03 percent stake in LVMH Moët Hennessy Louis Vuitton.

In 2004, M&S resisted a hostile takeover attempt by British investor Philip Green when Green failed to get sufficient backing from shareholders.

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