NYSE Euronext cuts stake in Qatar exchange
Doha, December 4, 2012
NYSE Euronext, the transatlantic exchange, reduced its ownership in Qatar stock exchange by selling an eight percent stake to the Gulf state's sovereign wealth fund, the Qatar bourse said in a statement on Tuesday.
Qatar Holding, the investment arm of the Gulf state's sovereign wealth fund, now owns an 88-per cent stake in the Doha-based bourse, with NYSE Euronext holding the remaining 12-per cent stake, the statement said, without giving any financial details.
The owner of the New York stock exchange had bought a 20-per cent stake in the Qatar Exchange in 2009 for $200 million as part of a strategic agreement to transfer knowledge and develop the local exchange.-Reuters