Qatar acquires 5.2% stake in US jewellery giant

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Tiffany & Co

Tiffany & Co

Qatar’s sovereign wealth fund has acquired a 5.2 percent stake in Tiffany, the US-based jewellery retailer, it was reported on Friday.

The stake expands the portfolio of the Qatar Investment Authority, which also owns Harrods, the luxury London department store, a 17 percent stake in Volkswagen and a one percent stake in LVMH, the French luxury group which owns Louis Vuitton, the UK's Financial Times reported.

QIA acquired its position last year and reported it this year in a Securities and Exchange Commission filing, the FT said.

According to the filing, QIA’s stake in Tiffany hit 5 percent on December 30 and is estimated to be worth about $437m.

The FT said the QIA declined to comment about the investment.

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

Last month it was also reported that Qatar had a two percent stake in oil group Total.

The wife of the Qatari emir bought a controlling stake in French handbag maker Le Tanneur & Cie in May last year while the Gulf state also has an interest in London department store Harrods.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Popular
Most Discussed