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Sovereign Wealth Funds Briefing - Categorized | Market

Lower Saxony’s new head backs Volkswagen expansion

Posted on 29 June 2010

From Bloomberg: Volkswagen AG, Europe’s largest carmaker, has the full backing of Lower Saxony to pursue an expansion strategy, including its merger with Porsche AG. Qatar Holding LLC, part of the country’s sovereign wealth fund, is the third- largest owner of VW’s with a 17 percent stake.
“We support Martin Winterkorn’s ambitious goal to make VW No. 1 in the auto market worldwide by 2018,” designated Prime Minister David McAllister said in an interview in Hanover, Germany, the first since he was named successor to Christian Wulff. Winterkorn is VW’s chief executive officer……………………………………….Full Article: Source

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