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Qatar Made ~EU9.7b on Volkswagen-Porsche Investment: Spiegel 2014-05-25 11:38:34.337 GMT
By Cornelius Rahn May 25 (Bloomberg) -- Value of shrs it still holds rose ~EU8.5b since 2009, while state made EU1.2b profit from earlier sales, Der Spiegel reports, citing unidentified people in finance industry involved in original transactions. * Qatar still has 23m VW prefs, which it bought at avg. price of EU63; shrs currently valued at EU190, giving EU3b gain: Spiegel * Qatar also holds 17% of VW voting shrs which were purchased at avg. EU80, now trade at EU190; value increased by EU5.5b: Spiegel * Qatar sold 1/2 of pref shrs in Nov. 2009 at profit of EU750m; last yr sold Porsche shrs back to Porsche and Piech families at ~EU500m profit: Spiegel * Deutsche Bank’s Qatari investor Hamad Bin Jassim Bin Jabor Al-Thani targets supervisory bd post in medium term: Spiegel
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To contact the reporter on this story: Cornelius Rahn in Berlin at +49-30-70010-6212 or crahn2@bloomberg.net To contact the editor responsible for this story: Kenneth Wong at +49-30-70010-6215 or kwong11@bloomberg.net