Borse Dubai Ltd., the company that controls Dubai’s two stock exchanges and has a stake in London Stock Exchange, sold shares in Nasdaq OMX Group Inc to help pay $1.1 billion of a $2.45 billion term-loan ahead of schedule.
The company raised $497 million from the sale of 22.78 million shares to Nasdaq OMX and $175 million from the sale of 8 million Nasdaq OMX shares to Nomura Holdings Inc, the Dubai government’s media office said in an e-mailed statement today. Nomura will sell the shares to Investor AB after receiving regulatory approval. Borse Dubai also raised $428 million from a three-year loan, arranged by Nomura and Emirates NBD PJSC, the United Arab Emirates biggest bank by assets.
“Borse Dubai remains a committed, long-term shareholder of Nasdaq OMX and by entering into these transactions it has been able to achieve its financing objectives while retaining substantial economic interest in Nasdaq OMX,†Mohammed Ibrahim Al Shaibani, Investment Corporation’s chief executive officer, said in the statement. “Borse Dubai remains the single largest shareholder of Nasdaq OMX.â€
The Nasdaq OMX said in a separate statement it agreed to repurchase from Borse Dubai about 22.78 million shares for $21.82 a share.
Borse Dubai, formed in 2007, controls Dubai Financial Market PJSC and Nasdaq Dubai, and holds about 20 percent of London Stock Exchange.
