Qatar takes stake in Hochtief

摘要

State-owned investment vehicle qatar holding llc has taken a 9,1% stake in Hochtief through the purchase of some 7 million newly-issued shares. The acquisition has given the German contractor a capital injection of € 400 million, and will also put an obstacle in the way of the hostile takeover bid for Hochtief from ACS. Hochtief issued the new shares directly to Qatar Holding without first giving subscription rights to existing shareholders. The company's board was given the authority to do this by a resolution at its May 11 general shareholders' meeting.