Monday, February 19, 2007

petrodollar impact / Qatar $40 Billion Fund May Seek 10% Stake in Airbus Parent EADS

looks more and more that pimco nailed it http://immobilienblasen.blogspot.com/2007/01/petrodollars-asset-prices-and-global.html the petrodollar is one of the major impacts of almost every asset class. and nobody can blame qatar for buying others assets than u treasuries or even worse fannie or freddie bonds.......

sieht immer mehr so aus als wenn pimco den nagel auf den kopf getroffen hat. der petrodollar ist sicher einer der haupteinflussfaktoren für fast alle anlageklassen. und es qatar sicher keiner übel nehmen nicht alles in us staatsanleihen oder noch schlimmer fannie oder freddie anleihen zu recyclen.....




Feb. 19 (Bloomberg) -- Qatar's $40 billion investment fund may buy as much as 10 percent of European Aeronautic Defence & Space Co., Europe's largest aerospace company, to diversify the emirate's holdings, the fund's chief executive said.

The state-owned Qatar Investment Authority has had talks with EADS, the parent of Airbus SAS, because the company is ``under pressure'' and its shares may be undervalued after falling by a fifth over the last year,

Airbus, the world's biggest planemaker, has said it will post its first-ever loss for 2006 after a two-year delay in deliveries of its superjumbo A380 led to cost overruns and penalties to customers. EADS has said it may sell shares this year to help fund development of its newest plane, the A350XWB. ....

The Qatar Investment Authority, or QIA, had assets of about $40 billion in mid-2006, Pacific Investment Management Co. estimated in a report by Ramin Toloui last month. The fund itself doesn't publish information on its holdings. Qatar, the world's largest shipper of natural gas and a member of the Organization of Petroleum Exporting Countries, channels surpluses from energy sales to the Doha-based QIA.





`Needs Money Fast'
Shares of Paris- and Munich-based EADS fell 18 percent last year while those of rival Boeing Co. advanced 26 percent. This year, EADS .... 16, giving the company a market value of 20.5 billion euros ($26.9 billion).




State-owned Qatar Airways is among the customers for the A380, with four on order. The airline has pledged to buy 60 A350s but has held back from making its commitment into a firm order.

EADS has said the A380 delays will lead to total operating losses through 2010 of 4.8 billion euros. The cost of bringing the A380 into service has ballooned to about 19 billion euros from an original projection of 12 billion euros. Airbus has said the A350, which will compete with Boeing's 787 Dreamliner, will cost 11.6 billion euros to develop. ......

Qatar isn't the only investor with interest in EADS. Last year, Russian state-owned bank VTB Group bought a 5.02 percent holding after purchasing the shares on the open market. .... (who´s next..../ wer kommt als nächstes...)


Gulf state investment agencies such as the QIA, Kuwait Investment Authority and Dubai International Capital LLC ``are buying stakes in overseas companies where they feel they'll get exposure to economies with different growth cycles to their own,'' .

The QIA owns a 7 percent stake in one of EADS's core shareholders, French media company Lagardere SCA, Sheikh Hamad said.

When EADS was created in July 2000 from the assets of the biggest aerospace companies in France, Germany and Spain, its key shareholders were DaimlerChrysler AG, with 30 percent, and two French shareholders: the French government, with 15 percent, and Lagardere with 15 percent.
The rules governing EADS give those core shareholders control over key decisions and over choosing board members. Ownership of EADS has evolved in the last year.
Lagardere and DaimlerChrysler each sold 7.5 percent stakes last April to banks and other financial institutions.

here is the bloomberg video interview on the sheikh hamad of qatar! (good stuff!)http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vDmGNihdPLYU.asf



one more info about qatar airways. (thanks to "z end")

Qatar Airways uses Airbus exclusively http://www.qatarairways.com/index.php?id=37.0.0.1.0.0&tab=5

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