GERMANY: Qatar offloads VW shares
Author: just-auto.com editorial team | 10 November 2009
Qatar's sovereign investment fund, Qatar Holding (QH) has sold up to 25 million preference shares in Germany, a move that may have raised over EUR1bn.
QH is said to be cashing in on recent gains in VW's share price and raising capital for more deals.
It says it still plans to raise its voting stake in Volkswagen.
"QH intends to continue increasing its holding in Volkswagen AG ordinary shares to 17 percent, as previously announced, subject to receipt of regulatory approvals," it said in a statement.
"The placement represents approximately one-half of QH's total economic exposure to Volkswagen's preference shares," it said in a statement.
The fund said it plans to remain a long-term strategic investor in VW and is supportive of its plans to merge with Porsche.
Sectors: Financial, Vehicle manufacturers
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GERMANY: Qatar offloads VW shares
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