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Qatar sovereign wealth fund to sell entire stake in Veolia

Qatari Diar Real Estate Investment Co., the property unit of sovereign wealth fund Qatar Investment Authority is selling a stake worth about $640 million in French utility Veolia Environnement SA, Bloomberg News reported.

The real estate investment company will sell about 26.1 million shares in the French utility, or around 4.6% of share capital. Veolia's shares were priced at €19.91 at the end of trading on March 12.

Qatari Diar will immediately initiate an accelerated book building and will announce the results of the sale once it is done, Bloomberg News said.