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.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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