Qatar Investment Authority acquires 10% stake in Borsa Istanbul

Qatar Investment Authority (QIA) signed a Memorandum of Understanding (MoU)with Turkey Wealth Fund (TWF) to acquire a 10% stake in Borsa Istanbul. The deal came after Qatar’s Emir, Sheikh Tamim bin Hamad al-Thani, met with Turkish President Tayyip Erdogan (above) in a formal visit to Turkey last week. The MoU was signed by TWF CEO Zafer Sonmez and QIA CEO Mansoor bin Ebrahim Al-Mahmoud in a ceremony at the Presidential palace in the capital Ankara. TWF is currently the majority shareholder of Borsa Istanbul with a 90.6% stake. The deal came after The European Bank of Restructuring and Development (EBRD) sold its 10% stake in Borsa Istanbul to TWF last year.