Qatar Wealth Fund Purchases Credit Suisse’s London Base
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Qatar Investment Authority, the emirate’s sovereign wealth fund, increased its stake to 8.4 percent in Iberdrola SA, raising its investment in Spain’s largest electricity provider to 2.27 billion euros ($3 billion).
The fund based in Doha has surpassed all other stockholders except for Spanish construction company Actividades de Construccion & Servicios SA, which holds about 19 percent of Iberdrola, according to the utility’s annual corporate governance report covering 2011 activities released yesterday.