Qatar signed a deal Monday to buy the operator of four luxury resorts and other properties on the island of Sardinia as the wealthy Gulf emirate looks to bolster ties with Italy.
The purchase coincided with a visit to Rome by the country's emir. It is the latest deal in a European shopping spree that has given the natural-gas rich state a stake in European banks, energy companies and some of the continent's best known brands.
State-owned Qatar Holding, an arm of the country's sovereign wealth fund, said it will acquire resort operator Smeralda Holding from Los Angeles-based real estate investment firm Colony Capital.
Qatar fund snaps up hotels on Italy's Sardinia - CBS News
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