Qatar Investment Authority on Monday bought a 19.9% stake in Hong Kong-listed retailer Lifestyle International, which operates the flagship Sogo store in Causeway Bay and stores in mainland China for HK$4.8 billion $618 million.
The deal represents the sovereign wealth fund’s second investment in Asia, the first being a stake in Agricultural Bank of China, and comes as such funds are playing a more active role in investments. Singapore state investment company Temasek acquired a 25% stake in Hong Kong health retailer AS Watson for $5.6 billion in March this year.
The shares were sold by Real Reward, which is 50% owned by Thomas Lau,...
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