Friday, 16 March 2012

Qatar holds $914m stake in French luxury retailer



 
 
Sovereign wealth fund Qatar Holding has built up a stake of more than one percent in French luxury goods group LVMH Louis Vuitton Moet Hennessy.
Qatar Holding holds a 1.03 percent interest in the company, the French company said in a legal filing cited by Zawya Dow Jones.
Based on LVMH's share price of EUR135, the stake is worth around EUR699m ($914m). Qatar Holding declined to comment, it reported.
Qatar's investment firms have been on a buying spree in France in recent months, including the purchase of football team Paris Saint-Germain.Qatari funds have also bought 10 percent of French media company Lagardere and 5.6 percent of construction giant Vinci.
Earlier this week it was reported that Qatar had a two percent stake in oil group Total.
The wife of the Qatari emir bought a controlling stake in French handbag maker Le Tanneur & Cie in May last year while the Gulf state also has an interest in London department store Harrods.
Qatar Holding's investment in LVMH made it the sixth-largest shareholder, the report said.

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