Egyptian purchase studied
NZPA-AP London Fraud investigators said they were studying the findings of a year-long examination of the takeover of House of Fraser Holdings, Pic, parent company of the Harrods department store. The Serious Fraud Office said it had received a report from two governmentappointed inspectors who scrutinised the March, 1985, purchase of shares in the retailing group by the AlFayed brothers. The Egyptian Al-Fayeds — Mohamed, Ali and Salah — paid £615 million (SNZI662M at today’s rates) for House of Fraser, which operated 106 department stores in addition to Harrods. An earlier bid by Lonrho, Pic, a British conglomerate headed by Roland “Tiny” Roland, had been blocked by Britain’s Monopolies and Mergers Commission.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19881006.2.146.16
Bibliographic details
Press, 6 October 1988, Page 28
Word Count
113Egyptian purchase studied Press, 6 October 1988, Page 28
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in