Qatar Holding plans to sell up to half its Volkswagen shares

Article by Christian Andrei, on August 25, 2010

Qatar Holding wants sell up to 25 million Volkswagen AG preference shares to improve the liquidity of the preference shares, raising about 1.6 billion euros ($2.4 billion) for other transactions. However, Qatar Holding, the investment arm of the Gulf state of Qatar, will raise its holding in VW's ordinary shares to give it the third-largest voting stake in the German automaker. The company reiterated its commitment to its Volkswagen investment.

In a statement, QH said that it intends to continue increasing its holding in Volkswagen AG ordinary shares to 17 percent, as previously announced, subject to receipt of regulatory approvals.

This would mean that Qatar Holding has the third-largest voting stake in Volkswagen behind automotive group Porsche Automobile Holding SE and VW's home state of Lower Saxony.

At the end of August, Qatar's voting stake in VW was 6.78 percent. Qatar said it agreed on a lock-up period for the remainder of its non-voting VW preference shares until Dec. 31, 2009.

VW has around 105 million preferred shares in circulation. VW and Hussein al-Abdullah, executive director of the Qatar Investment Authority (QIA), which controls Qatar Holding, have yet to comment on this issue. Credit Suisse and Goldman Sachs are assisting in the share sale

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nearly all details have been set with regards to the upcoming market introduction of the new Jaguar I-Pace. Its production version was recently previewed at the 2016 Los Angeles Auto...
by - December 8, 2016
WM Motor, a new China-based automaker, recently revealed its forthcoming lineup consisting of affordable electric vehicles. While there is a company is the U.S. that has the same name, they...
by - December 8, 2016
Even when Aston Martin has been mum about the upcoming AM-RB 001 hypercar, Marek Reichman at least has something new to say. In a recent interview with Australia’s Motoring, the...
by - December 8, 2016
The people at Mercedes-Benz are rejoicing. This is simply because for the first time since 1979, Mercedes-Benz has assembled 20,000 – and still counting – examples of the Mercedes-Benz G-Class....
by - December 8, 2016
When Donkervoort Automobielen BV unveiled its Donkervoort D8 GTO-RS limited edition in May 2016, customer interest has been so overwhelming that the Lelystad, Netherlands-based carmaker sold out this one-of-a-kind vehicle...
by - December 8, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries