FRANCE - Qatari Diar buys 22.7% of SFCMC
Qatari Diar, an investment firm belonging to the Qatari Investment authority, has purchased 22.76% of Société Fermière du Casino Municipal de Cannes (SFCMC), which operates hotels and casino's in Cannes. The Desseigne Barrière family retains a majority stake of more than 70% in the business.
The investor recently tried to increase its shareholding in Société des Bains de Mer, the company responsible for Monaco’s casinos, though the transaction was blocked. It also recently purchased Cegelec from LBO France for around EUR 1.7bn.
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