Qatar Investment Authority, the Gulf state's sovereign wealth fund, agreed to pay HK$9.3 billion (S$1.62 billion) to buy a stake in Hong Kong billionaire Li Ka-shing's electric utility as it boosts investments in Asia. The fund's Qatar Holding LLC unit will acquire a total 19.9 per cent interest in HK Electric Investments & HK Electric Investments Ltd, controlled by Li's Power Assets Holdings Ltd, according to a statement from the Hong Kong-based company.
Qatar, which has invested in assets from German automaker Volkswagen AG to American Express Co's business-travel division, plans to put as much as US$20 billion into Asia in the next five years and expand offices in Beijing and New Delhi...............................................Full Article: Source
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