MILAN: Qatar Holding LLC has agreed to buy a 40 percent stake in Milan’s real estate development project Porta Nuova for an undisclosed sum, its developer Hines Italia SGR and Qatar Holding said in a joint statement yesterday.
Qatar Holding will subscribe to newly issued shares with the remaining 60 percent staying in the hands of the current sponsors of the project, according to the statement.
Porta Nuova has a market value of more than ¤2bn ($2.57bn), it said.
Back in April, several sources said Qatar was in talks to buy some or all of Milan’s newly built Porta Nuova business district.
Qatari LNG tanker to reach Britain in three weeks
London: The Aamira liquefied natural gas tanker is expected to arrive at the UK’s Milford Haven port, home to two LNG terminals, in less than three weeks, according to ship tracking data.
The tanker, which has a capacity to carry 260,000 cubic metres of super-cooled gas and is one of the world’s largest LNG tankers, left the Suez Canal in Egypt on Wednesday, according to AIS Live ship tracking data on Reuters.
It is showing “MH” as its destination, which could mean it delivers to either terminal at the port, but the most likely discharge point is the South Hook facility, which is partly Qatari-owned.
It is about 20 days sail from the port, according to calculations done on www.searates.com. Reuters
