Qatar holds $914m stake in French luxury retailer

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Sovereign wealth fund Qatar Holding has built up a stake of more than one percent in French luxury goods group LVMH Louis Vuitton Moet Hennessy.

Qatar Holding holds a 1.03 percent interest in the company, the French company said in a legal filing cited by Zawya Dow Jones.

Based on LVMH's share price of EUR135, the stake is worth around EUR699m ($914m). Qatar Holding declined to comment, it reported.

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.

Earlier this week it was 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.

Qatar Holding's investment in LVMH made it the sixth-largest shareholder, the report said.

Related:
Companies
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

Posted by: C-J

How does investing in Moet & Chandon, Dom Perignon, Hennessy and other cognac, wines and spirits fit in with Qatar's religious values?

Posted by: Artem

It is enough interesting as I think why Qatar has such geo focus concerning its outside investments. I does buy minority blocks of securities in large companies have these companies potential for next growth ? Why would not it change its strategy and to start purchase controlling interest smaller companies in? Last has more potential for growth. If Emir says on knowledge based economy it would be logically to suppose Qatari funds shall invest in tech segments of economy despite of it they place their investments into well-known brands in luxury segment. If consider such approach as aims to keep on the promotion of Qatar in light of future FIFA World Championship 2022 may be it is right approach .How than realize Emir's conception about knowledge based economy despite of Oil based economy?

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How the UAE is sewing together a top industry

How the UAE is sewing together a top industry

In the shadows of oil and aviation, the UAE’s textiles industry...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Dubai's nightlife bubble: When is it going to burst?

Dubai's nightlife bubble: When is it going to burst?

A new breed of clubs and bars is sprouting in the city, but which...

12
Most Popular
Most Discussed