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Posted On: 18 March 2012 06:26 am
Updated On: 12 November 2020 02:11 pm

Click here to find out more! Qatar holds $914m stake in French luxury retailer

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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.