MAGASIN DU NORD
A Historic Department Chain Store
In 2009, Alshair entered a joint venture under Solstra Holding to buy Magasin Du Nord, Denmark's historic department store chain. Following an extended period of economic difficulties, the previous owner was forced to sell of the real estate assets, which included the landmark building on Kongens Nytorv. Solstra bought back all the assets and Alshair acquired full ownership in 2010. He sold the business to UK department store Debenhams for 1.5 billion DKK before later selling the real estate assets back to Danish pension funds ATP and PensionDanmark given their historic significance.
