06.10.2015 - Qatar's wealth fund sells EUR380m stake in Vinci
The Qatar Investment Authority, the world's ninth biggest sovereign wealth fund, is selling part of its stake in French builder Vinci through a private placement. The QIA, which has been a shareholder of Vinci SA for five years, is selling more than 6m Vinci shares, representing approximately 1.1 per cent of share capital in the company. Based on Monday's closing price that represents a €380m stake in the company. The news comes as Qatar's sovereign wealth fund suffered heavy losses on Volkswagen, Glencore and Agricultural Bank of China, three of the biggest equity investments of its fund last month. The QIA has hired Societe Generale for the sale and will have a 3.9 per cent stake left in Vinci after the sale is completed...............................................Full Article: Source
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