On March 9, 2016, Deutsche Börse AG (Deutsche Börse) and NASDAQ, Inc. (NASDAQ)entered into an agreement regarding the sale of International Securities Exchange Holdings, Inc. (“ISE”), operator of three US equity options exchanges, and ISE’s holding company U.S. Exchange Holdings, Inc. to NASDAQ for a total cash consideration of 1.1 billion US$. The agreement excludes ownership interest in Bats Global Markets, Inc. and in Digital Asset Holdings LLC, which will continue to be owned by Deutsche Börse.
At the time of the acquisition ISE was allocated to the Eurex segment from a balance sheet perspective. With the divestiture, the goodwill of the Eurex segment will only reduce partially, so that a high triple-digit million euro disposal gain is expected for Deutsche Börse on the group level.
In the context of its growth strategy “Accelerate” Deutsche Börse implemented far-reaching organizational changes and defined the Group’s financial targets. As part of that, the company is constantly evaluating the competitive positioning, profitability, ability to innovate, and strategic benefits of all its shareholdings and own activities.
The completion of the transaction is subject to the approval by competition and supervisory authorities and is anticipated for the second half of 2016.
Perella Weinberg Partners LP is advising Deutsche Börse on the transaction. Allen & Overy is serving as Deutsche Börse’s legal counsel.
Data Sources: Deutsche Boerse | Effective Date: March 09, 2016