Groupama SA plans to sell a building on Paris’s Avenue des Champs Elysees, Europe’s most expensive shopping street, for more than 500 million euros ($660 million), according to three people with knowledge of the sale.
Marks & Spencer Group Plc , the U.K.’s largest clothing retailer, will re-enter France after a decade-long hiatus by opening a store on Paris’s Champs-Elysees and plans to add more outlets in and around the capital city.
PSA Peugeot Citroen completed the sale of 289 million new shares as part of a 3 billion-euro ($4.1 billion) capital increase to help Europe’s second-biggest carmaker finance a product revamp and push abroad.
Along Lisbon’s Avenida da Liberdade, a half-dozen vacant buildings mar a boulevard lined with gardens, ornately tiled sidewalks and luxury shops that’s considered the Champs-Elysees of the Portuguese capital.
Majid al-Abdulaziz, a 39-year-old sports teacher from Riyadh, is on vacation in Paris for the third summer in a row with his veiled wife, three daughters and son. He doesn’t think he’ll be back next year.
For decades, France’s elite troops have marched down the Avenue des Champs-Elysees in Paris to mark Bastille Day, passing countless tricolor flags and -- almost as important to French national identity -- dealerships for PSA Peugeot Citroen and Renault SA. Next summer, they may also find a Volkswagen AG showroom on their route.