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Qatar: Doha raises Xstrata stake

August 2012

Qatar Holding, the second-largest shareholder in takeover target Xstrata, has added to its stake in the miner, in its first purchase since it made an unexpected demand for better terms from suitor Glencore last month.

Qatar spent $7.8 million to buy extra shares taking its stake to 10.997 per cent of the miner and building what is already the largest holding after commodities trader Glencore’s 34 per cent.

Qatar surprised the market in June by demanding an improved ratio of 3.25. Glencore and Qatar are currently locked in talks.

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