Qatar Holding denies AUX stake talks
Doha, September 26, 2012
Qatar Holding, the investment arm of the Gulf state's sovereign fund, denied on Wednesday that it was in talks to buy a minority stake in Brazilian billionaire Eike Batista's gold company AUX.
"Qatar Holding wishes to make clear that it is not, and has never been, involved in discussions regarding such an acquisition. There is therefore no foundation, past or present, to such speculation," the investment firm said in a statement.
Earlier this week Reuters quoted three banking sources as saying Qatar Holding was in advanced talks to buy a 49-percent stake in AUX for about $2 billion.
An agreement might be reached as early as this month, one of the sources said, declining to be identified as the matter had not been made public. Credit Suisse is advising Qatar Holding on the transaction, while Brazil's Itau Unibanco is advising the seller, the sources said.
Batista, Brazil's richest man, said in June that he expected to sell the AUX stake, which owns gold mining rights in Colombia, for about $2 billion by September. - Reuters
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson