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Qatari investors in talks to buy British retailer House of Fraser

RBR Staff Writer Published 06 May 2013

British department store chain House of Fraser which is battling to restore profitability, could be taken over by the Qatari investors in a £300m-plus deal.

Established in Glasgow, Scotland in 1849, House of Fraser offers clothing, cosmetics and houseware products.

The Qataris, who bought Harrods in 2010, have been planning to acquire House of Fraser chain for several weeks.

Harrods is an upmarket department store, which was once part of House of Fraser.

Sources claim that Qatari family have also held discussions with some of House of Fraser's shareholders in the last few months, however the deal was not finalized.

House of Fraser has a wide shareholder base and a large amount of debt. The deal, if successful, will reunite House of Fraser with Harrods, after a separation of 28 years.

House of Fraser has 62 stores in the UK, including a flagship store on Oxford Street and in the Westfield London shopping center.