QIA pays $616m for stake in Hong Kong department store operator
Monday, October 20, 2014
(AVCJ by Tim Burroughs) – Qatar Investment Authority (QIA) has bought a 19.9% stake in Lifestyle International Holdings – a Hong Kong-listed retailer whose properties include SOGO department stores – for HK$4.78 billion ($616.2 million).
According to a regulatory filing, a vehicle owned by the Middle East sovereign wealth fund has agreed to buy 324.2 million shares in Lifestyle International at HK$14.75 apiece. The stock hasn't traded since September 24, when it closed at HK$14.60.
