Qatar’s Masraf Al Rayan Sells RE Firm Stake To Government Fund
The Qatari lender said it agreed to sell its 50% stake in Seef Lusail Real Estate Development.
Masraf Al Rayan, Qatar’s largest Islamic bank by market value, said Sunday it had agreed to sell its 50% stake in Seef Lusail Real Estate Development Co to the RE (real estate) arm of the Gulf state’s sovereign wealth fund.
The bank, which did not disclose the sale price in its statement, had owned the company equally with Qatari Diar Infrastructure Company.
Under the agreement, it will divest a 49% stake to its joint venture partner, with the remaining 1% sold to Qatari Diar Real Estate Investment Company. Both are units of Qatari Diar, owned by the Qatar Investment Authority.
Latest posts by Paul Ebeling (see all)
- China Hunts Corrupt Officials, Strengthens Cross-border Cooperation - November 26, 2014
- Chicago Agriculture Commodities Finish Mixed - November 26, 2014
- UAE Sees Oil Price Stabilising, Pressure On Non-OPECs - November 26, 2014
- US Stock Indexes Finish On The Highs, Light Holiday Volume - November 26, 2014
- Gold, Silver, Copper, Crude Oil, Nat Gas Off On The Day - November 26, 2014
US Stock Indexes Finish On The Highs, Light Holiday Volume ... read more
US Treasuries Up, US Dollar Down 10-Yr: +06/32..2.239%.. USD/JPY: 117.67.. ... read more
Wednesday's Technical Analysis: Spot Gold Spot Gold closed higher Tuesday ... read more