QIA acquires NYSE Euronext stake in Qatar Exchange

by  — 1 October 2013

Qatar Investment Authority becomes sole owner of the Qatar Exchange buying out NYSE Euronext's stake.

Qatar Holding, the investment arm of  the Qatar Investment Authority (QIA) has signed an agreement to purchase NYSE Euronext’s 12 percent stake in Qatar Exchange making it the sole owner of the Qatar Exchange.  

Rashid Bin Ali Al Mansoori, CEO of Qatar Exchange stated that, “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”.

In June 2009, the Qatar Investment Authority and NYSE Euronext signed a strategic partnership agreement 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. Most recently Qatar was upgraded from a Frontier market to Emerging market status on the MSCI.  Under that agreement NYSE Euronext held a 20 percent stake in Qatar Exchange. The two sides later signed an agreement in September 2012 under which Qatar Holding owned 88 percent of Qatar Exchange, with NYSE Euronext holding the remaining 12 percent. 

Cooperation between Qatar Exchange and NYSE Euronext is expected to continue in different fields including technology and expertise, according to the press statement. Al Mansoori noted that in the next phase, Qatar Exchange will seek to provide more services to investors based on the efforts of QE’s Qatari management and staff who have deepened their expertise over the years of the partnership.

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