NYSE Euronext agrees to buy 25pc stake in Doha market
Wednesday, 25 June 2008
PARIS, June 24 (AFP): Transatlantic financial market operator NYSE Euronext said today that it had agreed to buy 25 per cent of the Doha stock exchange for 250 million dollars (161 million euros).
A statement said the deal would "transform the Doha Securities Market into a significant international player in the global exchange space and provide NYSE Euronext with a valuable presence in the Middle East."
The transaction was expected to be completed in the fourth quarter of the year and the state of Qatar, via the Qatar Investment Authority, is to retain the remaining 75 per cent of the exchange.
Qatari Prime Minister Sheikh Hamad bin Jassem al-Thani, quoted in the statement, said the link up was "a hugely significant development for Doha's financial markets, for the people of Qatar and for the Middle East."
Both sides said they would work together to "explore other opportunities in the Middle East."
A statement said the deal would "transform the Doha Securities Market into a significant international player in the global exchange space and provide NYSE Euronext with a valuable presence in the Middle East."
The transaction was expected to be completed in the fourth quarter of the year and the state of Qatar, via the Qatar Investment Authority, is to retain the remaining 75 per cent of the exchange.
Qatari Prime Minister Sheikh Hamad bin Jassem al-Thani, quoted in the statement, said the link up was "a hugely significant development for Doha's financial markets, for the people of Qatar and for the Middle East."
Both sides said they would work together to "explore other opportunities in the Middle East."