King & Wood Mallesons has advised the shareholders of El Corte Inglés in the €1 billion sale of a 10% stake to former Qatari Prime Minister Sheik Hamad bin Jassim bin Jaber Al Thani. These stocks form part of the company’s treasury shares and the investment was made through a financial instrument that will be converted into shares within three years.

After this deal – a move that values the group at €10 billion - Sheik Hamad bin Jassim bin Jaber Al Thani will become a board member in the Spanish corporation.

The transaction, one of the most important in the Spanish retail sector for the last three years, was led by Corporate Partner Carlos Pazos.