Harrods department store has been sold for about 1.5 billion pounds ($US2.3 billion).
Owner Mohammed Al Fayed has agreed to sell to Qatar Holdings. He acquired Harrods in 1985 following a 615 million pound takeover.
Harrods was established in 1849. Fifteen million people shop there each year.
The BBC reports Mr Al Fayed is to become honorary chairman of Harrods.
The sale will include all parts of the group, including Harrods Estates and a charter aircraft service.
Qatar Holdings is the investment arm of the Qatar Investment Authority.