Changing Hands

Harrods Sold for $2.2B to Qatar Holdings

Billionaire Mohammed Al Fayed, owner of Harrods since 1985, signed a deal Saturday morning to sell the famous London department store for 1.5 billion British pounds, or $2.2 billion, to Qatar Holdings. “In reaching the decision to retire, he wished to ensure that the legacy and traditions that he has built up in Harrods would be continued,” an adviser to Fayad said. Fayed—well-known for pushing conspiracies about the death of his son, who died in a 1997 car crash with Princess Diana—is retiring to spend more time with his family.