Qatar Fund Suggests Deutsche Bank Among Companies of Interest
(Bloomberg) -- Qatar Investment Authority’s chairman suggested Deutsche Bank AG is among the major German companies the sovereign wealth fund is talking to about potential stake purchases.
Sheikh Mohammed bin Abdulrahman Al Thani said in an interview at the World Economic Forum in Davos that QIA favors Germany because of its robust economy and is “interested in all the big companies” there. Asked if the $320 billion fund is talking with Deutsche Bank, he said: "We’re talking with everyone.”
QIA is looking “at different sectors” in Germany, said the chairman, who is also deputy prime minister and foreign minister of gas-rich Qatar. “Financial services is among them,” as are infrastructure and industrials, he said.
QIA is known for its big-name investments and has purchased stakes in companies including Rosneft PJSC, Volkswagen AG and Uber Technologies Inc. The fund is trying to diversify and do more business with major economies, including China and Russia. It’s prioritizing the technology, infrastructure and health-care sectors globally, the chairman said.
Last year, Qatar said its projected investment of 10 billion euros ($11 billion) in the German economy over the next five years would be its largest single investment in the country to date.
©2019 Bloomberg L.P.