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Orange Equity Partners buys 5% stake in Argentina's Rofex exchange

Investment group Orange Equity Partners has acquired a 5% stake in Argentine futures exchange Rofex SA for about $10 million, El Cronista reported.

Orange Equity Partners, which consists of mostly Dutch investors, purchased the stake from Bolsa de Comercio de Rosario, which now owns 37.6% of Rofex.

The stake sale follows Mercado A Termino De Buenos Aires SA approving a proposed merger with Rofex in a deal that will create the largest futures market in Argentina.

Orange Equity Partners based its decision to acquire the minority stake on Rofex's leadership position, its highly proactive management, as well as the "great potential of development of the local derivatives market," said Carlos Wagener, a director at Orange Equity.