El Corte Ingles sells 10% stake to Sheikh Hamad Bin Jassim Bin Jaber Al Thani for EUR 1bn (translated)
Story
Qatar former Prime Minister Sheikh Hamad Bin Jassim Bin Jaber Al Thani has acquired a 10% stake in the Spanish retailer El Corte Ingles for EUR 1bn, Europa Press reported, citing a company announcement.
The deal has been structured via a three-year instrument convertible into shares. The transaction values 100% of El Corte Ingles at EUR 10bn.
Sheikh Hamad, who is considered a long-term investor, will back El Corte Ingles’ business development strategy that includes expanding abroad, the Spanish-language report said.