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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatar said to back Prudential Plc’s $20 bln rights offering

Posted on 05 March 2010

From Businessweek.com: Qatar Holding LLC, part of the country’s sovereign wealth fund, plans to back Prudential Plc’s proposed $20 billion rights offering, according to a person with direct knowledge of the situation.

Qatar Holding, the Doha-based arm of the Qatar Investment Authority, offered to buy $1.5 billion of stock if Prudential shareholders decline to buy it in the offering, said the person, who declined to be identified because the talks are private. The fund is in talks about acting as a sub-underwriter for Credit Suisse Group AG, one of the sale’s managers, the person said……………………………………..Full Article: Source

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