Germany's Hochtief says Qatar buying 9.1-percent stake

6th December 2010, Comments 0 comments

German construction group Hochtief, fighting off a hostile bid from Spanish rival ACS, said on Monday that Qatar was acquiring a 9.1-percent stake in the firm following the issue of new shares.

The deal will bring in around 400 million euros (534 million dollars), strengthening Hochtief's financial position and providing funds for further growth, the German company said in a statement.

© 2010 AFP

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