Harrods, the iconic London Store has been sold by Mohamed Al-Fayed and his brothers to the Qatari royal family for a whopping £1.5 billion (Rs. 10,000 crore). The company is purchased by Qatar Holdings, an arm of the Qatar Investment Authority (QIA), which is a sovereign arm of the Qatari Royal Family.

Legal Week reports that Herbert Smith's London office advised Mohammed Al-Fayed. The firm has consistently advised the Al-Fayed family and its trusts since they took over the Knightsbridge store in 1985. Corporate Partner, Roddy Martin with Senior Associate Mike Flockhart led the transaction for Al Fayed. Latham & Watkins who advised the Qatari Ministry of Economy and Finance on the region's largest ever bond offering last year, reprised their role on this deal. The London head and Corporate Oartner Nick Cline with fellow corporate partner Mike Bond advised QIA on the transaction.

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