Bharti Airtel to sell stake to Doha-based Qatar Foundation Endowment (QFE) -Friday May 03,2013

Bharti Airtel on Friday May 03,2013 announced that it will sell 5 % stake to Doha-based Qatar Foundation Endowment (QFE) for around Rs. 6,800 crore by issuing over 199.87 million new shares.

As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of Rs. 340 per share amounting to a total consideration of Rs. 6,796 crore.

Goldman Sachs acted as the sole financial advisor to QFE on this investment.

Note
Qatar Foundation for Education, Science and Community Development

• is a semi-private chartered Non-Profit Organization in Qatar founded in 1995 by decree of Sheikh Hamad bin Khalifa Al Thani,Emir of Qatar  

• Qatar Foundation has established branch campuses of 8 international universities at Education City (the education campus of Qatar Foundation)

                                 Virginia Commonwealth University in 1998
                                 Weill Cornell Medical College in 2002
                                 Texas A&M University in 2003
                                 Carnegie Mellone University in 2004
                                 Georgetown School of Foreign Service in 2005
                                 Northwestern University in 2008
                                 HEC Paris in 2011
                                 University College London in 2011

• FC Barcelona had agreed a Shirt Sponsorship deal with the Qatar Foundation worth up to €170 million over 5 years in Dec 2010