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Article: Commercialbank sells its entire portfolio of Qatar equities.

Article from:
CPI Financial
Article date:
March 23, 2009
Copyright

Byline: news@cpifinancial.net (Staff Writer)

Commercialbank of Qatar, the largest private sector bank in Qatar, said that is going to take part in the Qatari Government's proposal (which was announced on 8 March 2009) in which the Government offered to buy part, or all, of the Qatar DSM equity investment portfolios of eight local banks.

Commercialbank has decided to take up the Government's offer and has sold its entire portfolio of Qatar equities which had a net book value of QAR 937.9 million ($257.5 million) at both 31 December 2008 and 28 February 2009. The Government will pay QAR 417.8 million ($114.7 million) in cash and provide a five-year bond of ...

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