Financial and Banking News


Egyptian Investors Take Stake in UK Retail Group 

A UK-based holding company owned by an Egyptian family, Al-fayed Investment and Trust (UK) Ltd. has acquired a 29.999% stake in the British retailing group House of Fraser for £138.3mn ($173mn). The stake was previously owned by the Lonrho trading group, and the shares were sold privately at a price of 300p. Two members of the al-Fayed family are to serve on the House of Fraser...