* Qatar bourse says Qatar Holding to own 88 pct stake
* Says move part of restructuring of exchange's shareholding
* NYSE had bought a 20-pct stake in 2009 for $200 mln
By Dinesh Nair
DUBAI, Dec 4 Transatlantic stock markets
operator NYSE Euronext, has reduced its stake in Qatar's
exchange to 12 percent by selling an 8 percent holding to the
Gulf state's sovereign wealth fund, Qatar Holding, the fund said
The owner of the New York Stock Exchange bought a 20-percent
stake in Qatar Exchange in 2009 for $200 million as part of a
five-year strategic agreement to transfer knowledge and develop
the local exchange.
Qatar Holding now owns 88 percent of the Doha-based bourse,
with NYSE Euronext holding the remaining 12 percent stake, the
Qatar Exchange said in a statement, without giving any financial
details of the transaction.
An official at the Qatar exchange was quoted as saying in
the statement that in the three and half years s ince t he NYSE
deal most of the aims of the agreement between the two exchanges
have been "successfully executed".
"In view of the above, Qatar Holding has expressed its
desire to increase its stake in QE from 80 percent to 88
percent; this desire was consistent with NYX's strategy to
obtain greater flexibility for strategic capital deployment,"
the un-named official is quoted as saying in the statement.
The Qatar bourse said the shareholder restructuring was
completed in October, when the bourse replaced Andre Went as its
Went had joined the exchange in 2009 from NYSE Euronext as
part of the strategic agreement.
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