Qatar’s sovereign wealth fund has been named as the likely buyer of the lease of British grand prix venue Silverstone.<\/p>\n
The Independent said Qatar Investment Authority – already owning shares in the London Stock Exchange, Volkswagen, Harrods, Miramax and French football club Paris Saint-Germain – is in exclusive talks with owner the British Racing Drivers’ Club.<\/p>\n
Due diligence is taking place now and “a final decision is expected in the next six months”, said the British newspaper.<\/p>\n
The report said part of the deal is that the 150-year leaseholders will have to maintain Silverstone “to make it suitable to retain the British grand prix” beyond 2017.<\/p>\n
Qatar is one of the Arab emirates in the Middle East, located next to South Arabia and across the strait from Bahrain.<\/p>\n
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