Qatar increases Tiffany stake to 8.7%

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar’s sovereign wealth fund raised its stake in luxury jeweler Tiffany & Co by one percentage point to 8.7 percent.

Qatar Investment Authority (QIA) was already the single largest shareholder in Tiffany. Shares in the company increased 0.4 percent to US$ 63.32 on the New York Stock Exchange following the announcement.

 In 2012 QIA has been buying minority equity stakes in other large companies, including in oil companies as Shell and Eni.

QIA owns a 3 percent stake in oil company Total and has also invested in British bank Barclays. The sovereign wealth fund also owns 17 percent of Volkswagen and 10 percent in Porsche.

The fund is believed to have assets in excess of more than US$100 billion, positioning itself as the 12th world largest sovereign wealth fund by asset under management, according to the SWF Institute.

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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of to Germany’s Rocket Internet for...

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...

Most Popular
Most Discussed