How Qatar bagged Printemps while taking French law for window-dressing


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The announcement was made by Paolo De Cesare, chairman and CEO of the Printemps department store chain, in a brief statement to senior management on July 31st. Revealing that Divine Investments, a Qatari holding company based in Luxembourg, had bought 70% of the RREEF property investment fund managed by Deutsche Bank, De Cesare said: “The arrival of a new shareholder, who prioritises long-term property investment, is an opportunity for Printemps, and will allow us to place ourselves as one of the most attractive large [department] stores in the world. I count on you to create together a new chapter in the history of Printemps.”