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Qatar’s stake in Siemens reaches USD3.08b

16 May 2012

(MENAFN) Germany’s Siemens announced that the stake of a subsidiary of Qatar’s-owned Doha Insurance Company (DIC) in the industrial group grew to worth around USD3.08 billion, reported Arabian Business.

The country’s most valuable firm said that on May 7, the Qatari stake in Siemens became more than the 3 percent threshold in voting shares.

The new acquisition increases Qatar’s investments in Germany, where the Arab Gulf nation controls a 17-percent voting stake in Volkswagen and one-tenth of Porsche SE unlisted common shares, in addition to a holding in construction group Hochtief.

It is worth noting that Qatar has stakes in Credit Suisse, Barclays, Agricultural Bank of China, Santander Brasil and London’s Harrods, the well-known department store.

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