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Qatar grabs 5 per cent stake in Kaupthing
22.09.08
Qatari Sheikh Mohammed Bin Khalifa Al-Thani has snapped up a 5% stake in Nordic bank Kaupthing for £150million.
The bank, best-known in the UK for financing retail takeovers made by Icelandic investor Baugur, said Al-Thani becomes the third-biggest shareholder in the process. He bought the stake in the open market.
The sheikh, a member of the royal family that has ruled Qatar since the 19th century, said he saw the deal as a "long-term investment".
He added: "Kaupthing has performed well in the current market turbulence and has proven it can change and adapt to a new reality in banking."
