DUBAI Oct 1 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
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.Ÿ