Nord Pool sells EEX stake to Eurex
Nord Pool ASA has agreed to sell its 17% stake in European Energy Exchange (EEX) to Eurex. Eurex plans to acquire up to 44% in EEX – for a total of €55 million − to strengthen its existing emissions trading partnership and continue its expansion into wider commodities markets.
Eurex announced on 27 February that it plans to acquire 3.46% of EEX’s own shares for €9.15 million (€6.60 per share). In addition, Eurex has entered into a purchase agreement with Nord Pool ASA to acquire the 17.39% stake the Norwegian company holds in EEX for €46 million (again equivalent to €6.60 per share).
Under a consortium agreement, Nord Pool must offer its EEX shares to other EEX shareholders, meaning that Eurex will acquire a minimum of 38% of Nord Pool’s stake. Eurex would not comment
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