FINANCIAL NEWS

Qatar adds 5.2% stake in jeweler Tiffany to its valuable portfolio

21 Apr 2012

(MENAFN) Qatar Investment Authority (QIA) continued with its aggressive buyouts drive in the west as it added a 5.2 percent stake in US-based jeweler Tiffany to its portfolio of valuable assets, Financial Times reported.

Qatar’s sovereign wealth fund owns London’s luxury London department store Harrods, and a 17 percent stake in Volkswagen and a one percent stake in LVMH, the French luxury group which owns Louis Vuitton.

The stake makes the QIA Tiffany’s largest shareholder, with investment fund Vanguard the next largest, with 5.17 percent the newspaper added.

Qatar’s investment firms have been on a buying spree in France in recent months, including the purchase of football team Paris Saint-Germain.

Qatari funds have also bought 10 percent of French media company Lagardere and 5.6 percent of construction giant Vinci.

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