Financial and Banking News

INVESTMENT ACTIVITIES

Egyptian Investors Take Control of UK Retail Group

A UK-based holding company owned by an Egyptian family, Al- fayed Investment and Trust (UK) Ltd. has acquired the majority stake in the British retailing group House of Fraser. The al-Fayed family first purchased a 29.999% stake in House of Fraser in a private deal at 300p per share at the end of last year (MEES 12 November 1984). They launched a full takeover bid with the blessing of the...