Qatar Holding acquires BofA, Samsung stakes

November 2, 2013 12:00 am

Qatar Holding has built small stakes in Bank of America and Samsung Electronics, as the Gulf country’s wealth fund continues on its strategy of picking minority stakes in large global companies, Reuters has reported, citing two sources familiar with the matter. The fund, one of the world’s most prolific investors, has a stake worth about $1bn in Bank of America, while its Samsung stake is worth between $200-$300m, the sources said. “Qatar has taken a view that equities are cheap as an asset class and it can commit a billion dollars or two in a large company and do away with any disclosure requirements,” one source familiar with the fund’s plans said. “These are mostly financial investments and very unlikely to lead into a strategic transaction for the fund. Like any investor, they would seek to buy it cheap and sell it high.”