QIA Seeks $665 Million Exiting Asia Department Store Investments - Bloomberg

QIA Seeks $665 Million Exiting Asia Department Store Investments - Bloomberg:

"Qatar Investment Authority, the sovereign fund pursuing asset disposals globally, is seeking to raise $665 million selling its holdings in Hong Kong retailer Lifestyle International Holdings Ltd. and its China affiliate. QIA is offering 371.1 million Lifestyle International shares, or a 23 percent stake in the company, at a fixed price of HK$12 apiece, according to terms for the deal obtained by Bloomberg. The offer price represents a 3.8 percent discount to Lifestyle International’s last close, the terms show. The sovereign fund first invested in Lifestyle International, which runs Sogo department stores, in 2014. QIA has already been reducing its direct holdings in Credit Suisse Group AG and Tiffany & Co. It’s considering selling more assets and channeling the proceeds back into its domestic market, people with knowledge of the matter said in October."



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