Herbert Smith and Latham & Watkins have bagged lead roles on the £1.5bn sale of Harrods to the investment arm of the Qatari Investment Authority (QIA).
Latham acted for QIA subsidiary Qatar Holdings on the transaction with London managing partner Nick Cline leading alongside fellow corporate partner Mike Bond.
The Herbert Smith team was led by corporate partner Roddy Martin, who worked alongside fellow corporate partner and Mohammed Al Fayed relationship partner Chris Parsons.
The firm has acted for Al Fayed and the Al Fayed Family Trust since its purchase of the iconic Knightsbridge store from House of Fraser in 1984.
Although no pricing details have been released, it is understood that the final price was somewhere north of £1.5bn.
Martin told The Lawyer: “It’s a good price and the kind of money you may have struggled to sell for in the last couple of years so you have to have some confidence in that.
“It’s been trading well through difficult times on the high street but it’s also a unique asset so there’s a premium built in.”