Borse Dubai wins OMX deal
Borse Dubai won agreement from Sweden's Investor AB and other shareholders in Nordic stock exchange OMX to sell their stakes, a person familiar with the matter said on Wednesday.
State-owned Borse Dubai agreed with Nasdaq last week to go ahead with its $4 billion offer for OMX, and then sell the exchange to the US stock exchange company for a 20% stake in the combined group.
Borse Dubai will buy Investor's shares at 265 Swedish crowns ($40.57) each, said the person, who did not want to be identified.
The other shareholders that have agreed to sell are Nordea Bank, OMX Chief Executive Magnus Bocker and founder Olof Stenhammar, the person said.
The agreement, which still needs the investors' signature, gives Borse Dubai an additional 17% stake in the Stockholm-based bourse, the person said.
Borse Dubai already owns 4.9% of OMX, with options to buy another 23.5%. The Qatar Investment Authority owns 9.98%.
Trading in OMX shares was suspended on Wednesday with further information expected later in the day, a regulatory filing from the Stockholm bourse said.
Last week Nasdaq and Borse Dubai joined forces with a deal to buy Nordic markets operator OMX and create "a global financial marketplace" which will see Borse Dubai taking key stakes in London Stock Exchange (LSE) and Nasdaq.
Under the deal state-owned Borse Dubai will end up with a 20% stake in Nasdaq and Nasdaq will take a strategic stake in Dubai International Financial Exchange (DIFX), which it said will be rebranded with the Nasdaq name and licensed to use Nasdaq and OMX market technology.
Source
State-owned Borse Dubai agreed with Nasdaq last week to go ahead with its $4 billion offer for OMX, and then sell the exchange to the US stock exchange company for a 20% stake in the combined group.
Borse Dubai will buy Investor's shares at 265 Swedish crowns ($40.57) each, said the person, who did not want to be identified.
The other shareholders that have agreed to sell are Nordea Bank, OMX Chief Executive Magnus Bocker and founder Olof Stenhammar, the person said.
The agreement, which still needs the investors' signature, gives Borse Dubai an additional 17% stake in the Stockholm-based bourse, the person said.
Borse Dubai already owns 4.9% of OMX, with options to buy another 23.5%. The Qatar Investment Authority owns 9.98%.
Trading in OMX shares was suspended on Wednesday with further information expected later in the day, a regulatory filing from the Stockholm bourse said.
Last week Nasdaq and Borse Dubai joined forces with a deal to buy Nordic markets operator OMX and create "a global financial marketplace" which will see Borse Dubai taking key stakes in London Stock Exchange (LSE) and Nasdaq.
Under the deal state-owned Borse Dubai will end up with a 20% stake in Nasdaq and Nasdaq will take a strategic stake in Dubai International Financial Exchange (DIFX), which it said will be rebranded with the Nasdaq name and licensed to use Nasdaq and OMX market technology.
Source
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