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Harrods Sold by Mohammed Al Fayed to Qatar Royal Family for £1.5 Billion 2010-05-08 03:41:23

Fab Flash: Harrods Sells for £1.5 Billion

A big deal has been secured this morning as Mohammed Al Fayed sold Harrods for £1.5 billion. The department store has been owned by Mr Fayed since 1985 following a £615 million take over bid. The store was bought today by Qatar holdings who reportedly placed a bid in March. It is still unclear why he wanted to sell the store, but the BBC reports that he will stay involved in some capacity, but not in the day to day running. 15 million people shop in Harrods every year and it is one of London's biggest tourist attractions. The new investor acts on behalf of the Qatari Royal family.

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