Deutsche Börse AG: Eurex, a subsidiary of Deutsche Börse AG, plans to increase stake in European Energy Exchange EEX
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27 February 2008 Deutsche Börse AG: Eurex, a subsidiary of Deutsche Börse AG, has entered into agreements to increase its current stake of 23.22 percent in the Leipzig based European Energy Exchange AG (EEX) by up to 20.85 percent to then 44.07 percent for a consideration of €55.15 million. This move underscores the strategic partnership of Eurex and EEX in emission trading and Eurex’s expanding exposure in the fast growing commodities markets. Eurex plans to acquire 3.46 percent of EEX’s own shares for €9.15 million, translating into €6.60 per share. In addition, Eurex has entered into a purchase agreement with Nord Pool ASA to acquire the 17.39 percent stake Nord Pool holds in EEX for a consideration of €46 million or €6.60 per share. Under the pre-emption rights laid out in the consortium agreement, Nord Pool is obligated to offer the shares on a pro-rata basis also to other EEX shareholders. Against this background, Eurex will acquire at least 38 percent of Nord Pool’s stake. Both transactions are expected to be closed in the second quarter 2008 and are subject to approvals from Supervisory Boards of Eurex and Deutsche Börse AG, as well as the Executive Board and Supervisory Board of Swiss Financial Market Services AG and the German Federal Cartel Office. Additionally, the acquisition of the Nord Pool stake requires the approval of the EEX Supervisory Board. End of Ad-hoc News ISIN DE0005810055 |