Qatari purchase of Printemps back on track

Qatari investors are to proceed with the purchase of iconic French department store Printemps, after a Paris court rejected union demands the sale be suspended. Printemps’ works council had complained it was not properly consulted or informed about the sale, which is valued at around €1.6bn ($2.1bn), including €550m of debt. It wanted the sale investigated for possible corruption, saying intermediaries had been paid “exorbitant sums”, but, on 8 August, the court said it had found no irregularities in the sale.