The decision in late August by Qatari investors to inject €500 million into the creation of Eurobank EFG in Greece was the most recent in a string of investments in euro zone assets by the Gulf state this year.
The investment, worth the equivalent of $685 million, in the merger of the troubled Greek banks Alpha Bank and Eurobank — creating the largest bank in Southeast Europe in terms of market capitalization — was in addition to a 7 percent stake the Qatar Investment Authority already held in Alpha Bank.
“Qatar already has sizable commitments in Europe, and part of their strategy involves politics and part of it involves escalation of commitment, particularly in what they believe are bargains,” said Yazan Abdeen, a fund manager at ING Investment Management in Dubai.
No comments:
Post a Comment