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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Qatar sells back 10 pct Porsche stake to founding families

Posted on 18 June 2013

Qatar Holding, the investment arm of the Gulf state’s sovereign wealth fund, has sold its 10 percent stake in Porsche SE to the luxury carmaker’s family shareholders, four years after it first invested in the firm. Qatar Holding, which owns stakes in some of the world’s largest companies, said it sold the common shares in the automaker to the Porsche and Piech families. It did not disclose the value of the transaction.
The sovereign fund arm said it remained committed to the Integrated Automotive Group which includes Volkswagen and Porsche through its 17 percent stake in VW. Europe’s largest automaker last year sealed the purchase of Porsche’s car-making business after a merger failed in a tangle of legal disputes………………………………………..Full Article: Source


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