NYSE Euronext agrees to buy 25-percent stake in Doha market
Güncelleme Tarihi:
Transatlantic financial market operator NYSE Euronext said Tuesday that it had agreed to buy 25 percent of the Doha stock exchange for $250 million (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 percent 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."
In March, NYSE Euronext's main rival in Europe, the London Stock Exchange, said it was in talks with the Qatari Investment Authority about a potential partnership with the Doha stock market.
NYSE Euronext was created at the end of March 2007 after a long merger process and is the world's largest exchange group.
It brings together markets in New York, Paris, Brussels, Amsterdam and Lisbon and also includes the Liffe financial futures market in London.