Qatar Holding buys NYSE Euronext out of Qatar Exchange
DUBAI (Reuters) - Qatar Holding, the investment arm of the country's sovereign wealth fund Qatar Investment Authority (QIA), has bought NYSE Euronext's 12 percent stake in the Qatar Exchange, the Doha-based bourse said in a statement on Tuesday.
The deal, for which a price was not revealed, makes Qatar Holding the sole owner of Qatar Exchange, which operates the country's securities market.
QIA and NYSE Euronext signed a strategic partnership deal in June 2009 aiming to develop Qatar Exchange into a world-class market under which NYSE Euronext bought a 20 percent stake in Qatar Exchange for $200 million and brought in a Western chief executive.
The buyout coincides with the partnership's objectives being achieved, the statement said. Late last year, NYSE Euronext reduced its stake from 20 to 12 percent and Qatar Exchange named a new, local chief executive.
"Cooperation between Qatar Exchange and NYSE Euronext will continue in different fields, including technology and expertise," the bourse said.
The Doha-based bourse is home to companies such as Qatar National Bank, the second largest lender in the Gulf by market value and petrochemicals firm Industries Qatar.
Trading volume at the exchange fell to 70.7 billion rials ($19.4 billion) last year from 83.4 billion rials in 2011.
International index compiler MSCI has decided to upgrade the UAE and Qatar to emerging market status next June, which should attract fresh foreign money.
(Reporting by Andrew Torchia and Olzhas Auyezov; Editing by Louise Heavens)
NEW YORK, March 8 (Reuters-peHUB) - The auction of JP Morgan Chase's private equity business, One Equity Partners, in the market since at least November, has hit an impasse, according to three people with knowledge of the situation.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.