Qatar: Union Development Co (UDC), the developer behind the man-made Pearl island project, has said it negotiating with a state pension fund to make a strategic investment in the developer, Reuters has reported. The Qatar Financial Markets Authority ordered UDC shares halted yesterday, to give investors "equal and sufficient" access to information related to UDC's announcement. The deal, worth QR160m ($43m), would see UCD issue 80 million new shares at QR20 each to The Pension and Social Insurance Authority, pending shareholder approval. [AMEInfo.com]
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