Kuwait wealth fund to keep Europe investments

29 May 2010

Kuwait Investment Authority (KIA), the Gulf state's sovereign wealth fund, has denied local media reports that it plans to scale back investment in Europe, Bloomberg has reported. KIA has a 5.3% stake in Stuttgart-based Daimler, making it the second-biggest shareholder after Abu Dhabi-based Aabar Investments, which owns 9.1%. It also holds a 1.8% stake in BP. An earlier report was cited in Kuwaiti newspaper Al-Anba, that the fund plans to reduce investment in states in the euro region due to deterioration of the Greek fiscal crisis and concern about debt problems in Portugal and Spain.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications