Euronext: acquires 66% of Nord Pool
(CercleFinance.com) - Euronext has announced that it has entered into agreements to acquire 66% of the capital and voting rights of Nord Pool Group, which operates in the European energy market.
The company has headquarters in Oslo and offices in Helsinki, Stockholm, Tallinn, Berlin and London.
The company, founded in 1993, is worth 850 million Norwegian kronor (about 84 million euros). It has over 360 clients in 20 countries.
In 2018, Nord Pool generated sales of around 40 million euros and 524 TWh were traded in its markets.
The acquisition of Nord Pool matches Euronext's strategy to diversify the composition of its turnover into new asset classes that are not correlated with financial market cycles.
The transaction is expected to be closed in the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company has headquarters in Oslo and offices in Helsinki, Stockholm, Tallinn, Berlin and London.
The company, founded in 1993, is worth 850 million Norwegian kronor (about 84 million euros). It has over 360 clients in 20 countries.
In 2018, Nord Pool generated sales of around 40 million euros and 524 TWh were traded in its markets.
The acquisition of Nord Pool matches Euronext's strategy to diversify the composition of its turnover into new asset classes that are not correlated with financial market cycles.
The transaction is expected to be closed in the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.