15.10.2015 - Qatar Sells Hochtief Stake in Third Disposal in Three Months
The Qatari fund has stepped up disposals in recent months amid a slump in oil prices. The sale by Qatar Investment Authority of its 10 per cent stake in Hochtief for 540 million euros ($615 million) marks the third publicly announced disposal in as many months by the sovereign wealth fund of the world’s largest exporter of liquefied natural gas. The QIA, as the fund is known, disposed of 7 million shares in the Essen, Germany-based construction company at a price equal to 77 euros apiece, it said in a statement Monday. A “significant portion” of the shares went to a single strategic holder that wasn’t identified. The sale is part of routine portfolio management, said the QIA, which invested in Hochtief in 2011...............................................Full Article: Source
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