From football and handball to some of the finest hotels of Paris and the Côte d'Azur, Qatar's French connection is at the heart of the latest expansion of the Gulf state's international business empire.
In another deal fuelled by Qatar's gas and oil riches, an intent to purchase has been signed for the Concorde Lafayette and Louvre hotels in Paris and two five-star seafront hotels, the Palais de la Méditerranée in Nice and the Martinez in Cannes. The cost is estimated at €700/750 million (Dh3.2/3.4 billion).
The acquisitions, expected to be ratified soon by the current US owners, Starwood Capital, will add to an impressive portfolio assembled as Qatar continues to extend its overseas business reach.
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