Qatar Holding acquires 12% stake of NYSE Euronext in Qatar bourse
Qatar Holding has purchased the 12% stake held by NYSE Euronext in the Qatar Exchange. No financial details were provided about the deal. As a result of the transaction, Qatar Holding became the sole owner of the Qatar bourse. The exchange is the trading platform for the securities market in Qatar. Qatar Holding is the investment unit of Qatar Investment Authority (QIA), the sovereign wealth fund of the Gulf nation.
In June 2009, the QIA and NYSE Euronext inked a strategic alliance geared towards the development of the Qatar Exchange. The deal sought to develop the bourse into a world-class market. According to a statement by Qatar Exchange Chief Executive Officer Rashid Bin Ali Al Mansoori, the stake purchase coincided with the achievement of those strategic goals.
Mansoori said, "Over a period of more than four years of strategic partnership with NYSE Euronext, Qatar Exchange has achieved significant progress and made remarkable achievements in terms of developing infrastructure and systems and the diversification of investment tools and services provided to investors."