Arab Today, arab today qatar builds us265bn xstrata stake
Last Updated : GMT 07:27:18
Arab Today, arab today
Arab Today, arab today

Qatar builds US$2.65bn Xstrata stake

Arab Today, arab today

Arab Today, arab today Qatar builds US$2.65bn Xstrata stake

Doha - Arabstoday

Qatar\'s sovereign wealth fund has built a 5 percent stake in Xstrata ahead of the mining giant\'s planned US$41bn takeover by commodities trader Glencore. The tiny Gulf Arab state\'s sovereign wealth fund, Qatar Investment Authority (QIA), now ranks as the third-largest shareholder in Xstrata behind Glencore and asset manager BlackRock, according to Reuters data. Regulatory filings showed that Qatar, which owns stakes in Credit Suisse and supermarket chain Harrods, built up its Xstrata holding - worth US$2.65bn at current prices - through a series of stock market transactions which began soon after Glencore announced it was buying the company. No immediate comment was available from the Qatar fund. Potential support for Glencore from Qatar could be key in seeing through the Xstrata acquisition, which has run into opposition from key shareholders including Standard Life Investments and Schroders. Glencore plans to buy Xstrata, the world\'s number four miner, in an all-share transaction that could create a combined group worth more than GBP50bn (US$79bn), shaking up the industry with its biggest deal to date. Glencore, the world\'s largest diversified commodities trader, already owns 34 percent of Xstrata and a tie-up between the two - a deal which would trump Rio Tinto\'s US$38bn acquisition of Alcan in 2007 - has long been expected, as Glencore aims to add more mines to its trading clout. The merger needs to be approved by 75 percent of shareholders excluding Glencore, which is barred from voting. Qatar\'s sovereign wealth fund, estimated to have assets of around US$100bn, is widely seen as the most aggressive in the world, ploughing the tiny Gulf state\'s gas dollars into a range of Western assets including automakers, prime real estate and global banks. In recent weeks, the tiny Gulf state\'s sovereign fund has also picked up minority stakes in France\'s Total, conglomerate Lagardere and luxury house LVMH .

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qatar builds us265bn xstrata stake Arab Today, arab today qatar builds us265bn xstrata stake

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qatar builds us265bn xstrata stake Arab Today, arab today qatar builds us265bn xstrata stake

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday