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FINANCIAL NEWS
Qatar’s sovereign wealth fund raises stake in Tiffany to 8.7%
14 Feb 2013
(MENAFN) Qatar Investment Authority (QIA), the country’s sovereign wealth fund, raised its stake in Tiffany & Co by 1 percentage point, reported Arabian Business.
The Qatari fund’s stake in the luxury jeweler is now 8.7 percent, maintaining its position as the single-largest shareholder in the US company.
QIA, which has been acquiring minority equity stakes in other large firms last year including Shell and Eni, is estimated to have assets of over USD100 billion.
It is worth noting that QIA has a 3-percent stake in French oil company Total, a 17-percent stake in Volkswagen and a 10-percent stake in Porsche.
More News
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