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Qatar Wealth Fund Bought NYSE Euronext’s Stake in Local Bourse
Sep 30, 2013
Qatar Holding LLC, a unit of the Emirate’s sovereign wealth fund, bought NYSE Euronext (NYX)’s 12 percent stake in the Qatar Exchange to become its sole owner. The sale came after achieving all the “strategic goals” identified for the Exchange when NYSE bought a 20 percent stake in June 2009, according to an e-mailed statement from the two companies.

Financial details of the deal weren't given. NYSE Euronext  assisted with changes at the Qatar Exchange that helped almost double the bourse’s market capitalization, contributing to MSCI Inc. (MSCI)’s decision in June to upgrade the exchange to emerging market status from frontier.

The U.S. company helped migrate  the Qatar Exchange onto the Universal Trading Platform, changed trading times and introduced bond and  Treasury bills to our bourse. Mr. Rashid Bin Ali Al Mansoori, Qatar Exchange Chief Executive Officer stated that: “Qatar Exchange has achieved significant progress and made remarkable achievements in terms of developing of investment tools and services provided to investors.”

The Qatar Exchange and NYSE Euronext will continue to co-operate in technology and expertise as the companies said. 

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