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Qatar eyes more investment in Germany
Sovereign wealth fund says looking for partners, opportunities; Fund owns stakes in Germany's VW, Porsche SE and Hochtief
September 28, 2011 11:02 by Reuters
Qatar, part-owner of Germany’s Volkswagen and Hochtief , is looking for more investment opportunities in the country, the head of the Gulf state’s sovereign wealth fund said.
“We are looking forward to strengthening our position here in Germany,” the chief executive of Qatar’s sovereign wealth fund, Ahmad Mohamed Al-Sayed, told a gathering of German industry executives in Berlin on Tuesday.
Germany offers a highly skilled workforce and outstanding products, and Qatar — which also owns a stake in Porsche Automobil Holding SE — was looking for more investment opportunities and partners, he said.
German magazine Der Spiegel reported this month that members of Qatar’s government met with German Economy Minister Philipp Roesler to discuss buying a 7.5 percent stake in European aerospace and defence company EADS from Daimler.
Daimler, however, said it had not been in touch with the Gulf state over selling its stake.
EADS has several sites in Germany, such as its Airbus aircraft assembly plant in Hamburg. (Reporting by Klaus Lauer; Editing by David Hulmes)