Thursday, Mar 15, 2012
PARIS (Dow Jones)--Qatar's sovereign-wealth fund has accumulated a stake of just over 1% in French luxury goods group LVMH Louis Vuitton Moet Hennessy (MC.FR), the most recent in a series of investments by the emirate in France.
According to LVMH's 2011 annual report filed to the French stock market regulator, Qatar Holding now owns 1.03% and has less than 1% of voting rights in the company.
Qatar has recently invested heavily in an array of French assets, from heavy industry to makers of expensive leather handbags.
State-owned Qatari funds have acquired French soccer team Paris Saint-Germain, handbag maker Le Tanneur & Cie and a 5.6% stake in construction company Vinci SA (DG.FR).
Qatar Holding declined to comment on the matter.
-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740; nadya.masidlover@dowjones.com
(END) Dow Jones Newswires
15-03-12 1610GMT
