Sheikh Hamad will get a seat on the Madrid-based company’s board after the deal.
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Former Qatari Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani will take a 10 percent stake in Spanish department store El Corte Ingles for 1 billion euros ($1.1 billion) as he builds his portfolio as a solo investor.Sheikh Hamad, who played a key role in Glencore International Plc's takeover of Xstrata Plc in 2013, is back as a private investor after injecting 1.75 billion euros into Deutsche Bank AG through his Paramount Holdings Services Ltd. investment vehicle last May.El Corte Ingles operates 88 stores, of which 86 are in Spain and two in Portugal, and 43 Hipercor large supermarkets, according to its 2013 annual report. The group earned 174.4 million euros of profit in 2013 on sales of 14.3 billion euros.
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