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Sovereign Wealth Funds Briefing - Categorized | Market

Sovereign wealth funds: Qatar seals its kingmaker role in Xstrata deal

Posted on 07 December 2012

Much has been said about the impact on the commodities sector of Glencore’s proposed £56 billion ($89 billion) merger with Xstrata, which at the time of writing appeared to be heading for completion. However, in the long term it might be remembered for a different reason: the role of a Middle East sovereign wealth fund as kingmaker in a deal that has nothing to do with that region.
Qatar’s role – which, ultimately, decided if the deal would go ahead or not – came about because Qatar Holding, the international arm of the Qatar Investment Authority (QIA) sovereign wealth fund, holds a 12% stake in Xstrata. The Anglo-Swiss multinational mining company generally has precious little to do with the Gulf: it is the world’s largest exporter of power-station coal………………………………………..Full Article: Source


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