Denmark's answer to Harrods

One of the businesses acquired by the consortium behind Solstra Holding in 2009 was Illum, Denmark’s answer to Harrods department store. Alshair took full ownership of Solstra Holding and, therefore, Illum, in 2010 – not long after Icelandic bank, Straumur, collapsed following the banking crisis. Alshair’s Magillum consortium eventually sold the iconic building to MGPA, the Australian fund manager. High-end luxury firm La Rinascente subsequently bought Illum for almost €400 million in 2013.

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