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STRATEGIC BUYOUT

QIA buys NYSE Euronext out of Qatar Exchange

Dubai, October 1, 2013

Qatar Holding, the investment arm of Qatar Investment Authority (QIA) has purchased NYSE Euronext’s 12-percent stake in Qatar Exchange and has become the sole owner of Qatar Exchange.

Cooperation between Qatar Exchange and NYSE Euronext will continue in different fields including technology and expertise, said Rashid Bin Ali Al Mansoori, CEO of Qatar Exchange.

“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,” Al Mansoori said.

Al Mansoori expressed confidence that during the next phase Qatar Exchange will continue to achieve further progress and maintain a leading status among the region's markets.

“With the development of Qatar Exchange’s cash market and the launch of its Venture Market, most of our joint actions are now complete,” said Roland Bellegarde, Group EVP for European Equities and Equity Derivatives at NYSE Euronext.

“And the transfer of operations to a local management team reflects the success of the transformation that has taken place. Looking back, our strategic partnership with the State of Qatar has benefited the Gulf region and customers on a global scale. Looking ahead, we are delighted to pursue our partnership, harnessing our technology assets and expertise - which complement the strong foundation and vision of our partners - to contribute to Qatar Exchange’s future success.”

Qatar Investment Authority and NYSE Euronext signed a strategic partnership agreement on 19 June 2009, which aimed to deploy a five-year strategy with the goal of transforming Qatar Exchange into a world-class exchange working to the best international practices and standards.

Under that agreement NYSE Euronext held a 20 per cent stake in Qatar Exchange. The two sides later signed an agreement in September 2012 under which Qatar Holding owned 88-per cent of Qatar Exchange, with NYSE Euronext holding the remaining 12-per cent.

This agreement coincides with the partnership’s objectives being achieved.  By signing and implementing the recent agreement, Qatar Holding has become the sole owner of Qatar Exchange.  – TradeArabia News Service




Tags: NYSE Euronext | Qatar Holding | Qatar Exchange |

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