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FINANCIAL NEWS
Qatar Holding to acquire stake in Milan’s Porta Nuova
18 May 2013
(MENAFN) Qatar Holding LLC announced that it will acquire a stake of 40 percent in Milan’s Porta Nuova, reported The Peninsula.
The announcement confirms reports last month that Qatar was in negotiations to acquire some or all of Milan’s newly established Porta Nuova business district.
The company will subscribe to newly issued shares, while the remaining 60 percent will continue to be held by the project’s current sponsors.
It is worth noting that the real estate development project has a market value of over USD2.57 billion.
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