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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment, Market

Gulf states eye Spanish lenders

Posted on 17 March 2011

From Thenational.ae: Sovereign wealth funds from Gulf states are laying the groundwork for acquisitions of “significant minority stakes” in Spain’s troubled savings banks. Initial talks have begun with state investment firms in Dubai, Abu Dhabi, Kuwait and Qatar to take equity stakes in the Spanish cajas de ahorros, or savings banks, according to an industry trade body that concluded a tour of Gulf states.
“We’re confident that we’re going to see finalised investments in specific opportunities,” said Jorge Gil, the managing director of Ceca, the Spanish Confederation of Savings Banks. He declined to offer further details, citing client confidentiality……………………………………….Full Article: Source

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