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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar boosts stake in Tiffany to amass $700 mln shareholding

Posted on 13 February 2013

Qatar boosted holdings in Tiffany & Co., the world’s second-largest luxury jewelry retailer, as the country uses its energy wealth to snap up stakes in companies such as Credit Suisse Group AG, Xstrata Plc and Volkswagen AG.
Qatar Investment Authority, the Persian Gulf nation’s sovereign wealth fund, increased its stake to 8.7 percent at the end of last year, according to a regulatory filing. The fund previously had a 7.8 percent stake, according to a Dec. 17 filing. Tiffany gained 0.3 percent to $63.10 yesterday in New York Stock Exchange Trading, valuing the Persian Gulf nation’s 11 million-share stake at about $700 million………………………………………..Full Article: Source


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