Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Qatar eyes stake in European arms giant
Published in The Saudi Gazette on 25 - 09 - 2011

Qatar, which sits on the world's third largest natural gas reserves, is seeking to buy a 7.5 percent stake in Europe's largest aerospace group EADS, which would give the gulf state a foothold in Europe's defense industry.
German newsmagazine Der Spiegel reports that talks between the state-owned Qatar Investment Authority, which has assets of $40 billion, are under way in Berlin with the German government to acquire the stake that automaker Daimler, EADS' biggest German shareholder, is shedding.
The aerospace giant, which builds the Airbus passenger jet and its military tanker spinoff as well as missiles and space rockets, is primarily a joint undertaking by Germany and France, with Spain a junior partner. France and Germany held equal shares of around 30 percent.
Daimler announced several months ago that it wanted to divest itself of its 22.5 percent stake in EADs. It holds 15 percent directly, with 7.5 percent parked in banks.
The planned selloff alarmed the German government, which feared that it might have to buy the Daimler stake to avoid the French, the Germans' traditional rival in Europe, snapping it up to give them greater control over EADS.
Maintaining a power balance in EADS between France and Germany has been a touchy issue since the group was established in July 2000 by DaimlerChrysler of Germany, Aerospatiale-Matra of France and Spain's Construcciones Aeronauticas.
"Berlin had hoped to keep the investment within Germany, fearing an upset in the delicate balance of power" between Germany and France," Der Spiegel observed.
But no German buyers could be found, raising fears in the government that it would have to acquire Daimler's stake to prevent the French boosting their holdings in EADS.
Despite concerns that Germany would oppose a non-European investor moving in, Der Spiegel reported that in early September Qatari officials met Economy Minister Phillip Rosler "who, contrary to Berlin's former position, reportedly has no objection to having shares held abroad."
But Der Spiegel quoted Economy Ministry officials as saying "any potential purchase of a stake by a sovereign fund would have to be examined very critically because of the company's strategic importance."
Qatar already has investments in Germany. It bought a 9.1 percent stake in Hochtief, the country's biggest construction group, in 2010 and a 10 percent stake in Porsche Automobil Holding for $9.9 billion in 2009.
A stake in EADS would be a major boost for Airbus as it grapples with promoting its A350 program against rival Boeing's 787 Dreamliner. State-owned Qatar Airways has ordered four of the giant A350s.
The New York Times reported the airline has "pledged to buy 60 A350s but has held back from making its commitment into a form order."
Much of its military equipment is French, including Dassault Aviation Mirage M-2000 combat jets and Combattante III naval missile craft.
Qatar hosts a major US air base at Al-Udeid, west of Doha. That's the forward headquarters of the US Central Command and its air force component.
The emirate has gas reserves of 896 trillion cubic feet, 14 percent of the world's known reserves and the third largest after Russia and Iran.


Clic here to read the story from its source.