FINANCIAL NEWS

Qatar’s QIA to sell Vinci stake for USD435m

08 Oct 2015

(MENAFN) Qatar Investment Authority (QIA) is reportedly planning to sell a stake in French construction firm Vinci valued at USD425 million.

The sovereign wealth fund is selling 6.46 million shares, or a 1.1 percent stake through a private placement arranged by Societe Generale, it has been reported.

QIA has held a stake in Vinci for five years, and will retain 3.9 percent following the transaction. The Qatari fund is the ninth largest in the world with assets worth USD250 million.

The sale of Vinci shares is “part of the routine portfolio management activities undertaken by QIA from time to time,” according to Gulf News.

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