QIA buys London hotel and Russian oil company stake

Contract_handshakeThe Qatar Investment Authority (QIA) is set to buy the landmark London hotel Grosvenor House. A deal has been agreed with the US private equity firm Ashkenazy Acquisition Corp although the price has not been disclosed. The acquisition, by the QIA’s Katara Hospitality subsidiary, is its third London hotel after The Savoy and Adria Boutique Hotel. The group also acquired the Plaza Hotel in New York for $600 million earlier this year and there are reportedly plans to buy another hotel in Europe in the near future. Qatar’s sovereign wealth fund is also reportedly set to spend $4.23 billion to increase its stake in Russian oil and gas company Rosneft. The deal concerns a 14.16% share which was jointly owned by the QIA and Swiss commodities trader Glencore which is looking to divest all but 0.6% of its holdings. The transaction brings QIA’s total stake up to 18.93%, making it the third largest shareholder in Rosneft behind the Russian government and UK oil company BP. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.


MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.


Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.