Looks like the financing problems could be resolved...
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http://www.bloomberg.com/apps/news?p...d=ap7TLu7EUUj8
QInvest to Buy Majority of London `Shard,' Property Week Says
By Simon Packard
Dec. 21 (Bloomberg) -- QInvest, a bank owned by investors from the Gulf states, is poised to become the majority owner in the London skyscraper development known as the `Shard,' Property Week reported, citing people familiar with the situation.
QInvest will buy the 33 percent stakes of CLS Holdings Plc and Simon Halabi and part of the stake of Sellar Property, the weekly magazine said. Spokesmen for the three parties declined to comment on the magazine's report.
Earlier this week QInvest Chief Executive Officer Abdul Latif Almeer said during a press conference that the bank was helping in an unnamed 1.4 billion-pound ($2.78 billion) real estate project in London, Property Week said.
The Renzo Piano-designed tower project is expected to cost at least 800 million pounds to build.
To contact the reporter on this story: Simon Packard in London at
packard@bloomberg.net
Last Updated: December 21, 2007 07:37 EST