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    Home > Finance > Qatar's QIA denies reported interest in Kering building in Milan
    Finance

    Qatar's QIA denies reported interest in Kering building in Milan

    Published by Global Banking & Finance Review®

    Posted on April 10, 2025

    2 min read

    Last updated: January 24, 2026

    Qatar's QIA denies reported interest in Kering building in Milan - Finance news and analysis from Global Banking & Finance Review
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    Quick Summary

    Qatar Investment Authority denies plans to buy Kering's Milan property amid Kering's financial pressures and Gucci's sales decline.

    QIA Refutes Interest in Kering's Milan Property Acquisition

    (Reuters) -The Qatar Investment Authority said on Thursday it had no intention to buy Kering's prestigious building on via Montenapoleone in Milan, after Italian newspaper Corriere della Sera said the investor was eyeing a stake in the property.

    Kering declined to comment.

    The luxury goods company has said it is looking for investors to refinance its recent real estate acquisitions.

    It faces increasing financial pressure amid plummeting sales at its flagship brand Gucci. 

    Kering bought the Milan property from Blackstone less than a year ago for 1.3 billion euros ($1.4 billion). 

    In January, Kering transferred three Paris properties to a new joint venture with French private equity Ardian, while retaining a 40% stake, to raise 837 million euros to help refinance its debt. 

    The group's net debt ballooned to more than 10 billion euros in 2024, largely due to a series of expensive acquisitions.

    Kering shares were up sharply in early trade on Thursday, following U.S. President Donald Trump's decision to delay the bulk of his sweeping import tariffs.

    ($1 = 0.9114 euros)

    (Reporting by Tassilo Hummel in Paris, Andrew Mills in Doha and Alessandro Parodi in Gdansk. Editing by Louise Heavens and Mark Potter)

    Key Takeaways

    • •Qatar Investment Authority denies interest in Kering's Milan property.
    • •Kering seeks investors to refinance real estate acquisitions.
    • •Gucci faces financial pressure due to declining sales.
    • •Kering's net debt exceeds 10 billion euros in 2024.
    • •Kering shares rise after U.S. tariff delay announcement.

    Frequently Asked Questions about Qatar's QIA denies reported interest in Kering building in Milan

    1What is the main topic?

    The article discusses Qatar Investment Authority's denial of interest in purchasing Kering's Milan property amid Kering's financial challenges.

    2Why is Kering under financial pressure?

    Kering faces financial pressure due to declining sales at Gucci and recent expensive acquisitions.

    3What action did Kering take to manage its debt?

    Kering transferred Paris properties to a joint venture to raise funds for debt refinancing.

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