Qatar Holding sells its 10% Porsche stake

(MENAFN) A Porsche spokesman, Albrecht Bamler, stated that Qatar Holding, the investment arm of the Gulf state's sovereign wealth fund, sold its 10 percent stake in Porsche to the company's family shareholders, reported The National. The spokesman also said that the sale came after four years of Qatar's investment in the luxury carmaker. Bamler added that Qatar Holding sold the common shares in the German automaker to the Porsche and Piech families. It is worth noting that the Qatari firm still has a share in the Integrated Automotive Group which includes Volkswagen (VW) and Porsche as it owns 17 percent of VW.