Qatar Holding Amasses Over 1% Of French Luxury Group LVMH
March 15 2012 - 12:40PM
Dow Jones News
Qatar's sovereign-wealth fund has accumulated a stake of just
over 1% in French luxury goods group LVMH Louis Vuitton Moet
Hennessy (MC.FR), the most recent in a series of investments by the
emirate in France.
According to LVMH's 2011 annual report filed to the French stock
market regulator, Qatar Holding now owns 1.03% and has less than 1%
of voting rights in the company.
Qatar has recently invested heavily in an array of French
assets, from heavy industry to makers of expensive leather
handbags.
State-owned Qatari funds have acquired French soccer team Paris
Saint-Germain, handbag maker Le Tanneur & Cie and a 5.6% stake
in construction company Vinci SA (DG.FR).
Qatar Holding declined to comment on the matter.
-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740;
nadya.masidlover@dowjones.com
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