Deals & Cases

Deals & Cases

November 2009

Deutsche Börse AG and SIX Group to become sole shareholders of STOXX

Deutsche Börse AG and SIX Group announced on November 12, 2009, that they have signed definitive agreements with Dow Jones & Company under which they will become sole operators of the Swiss index provider Stoxx Ltd. for a total consideration of EUR 206.1 million in cash. There will be the opportunity for Dow Jones & Company to earn up to a further EUR 29.0 million depending on business performance. 

Currently Deutsche Börse, SIX Group and Dow Jones & Company each hold 33.33 percent of STOXX. Following the closing of the transaction Deutsche Börse will control STOXX through ownership of 50 percent plus one share in STOXX. Deutsche Börse will fully consolidate STOXX. 

As part of the transaction, SIX Group and Deutsche Börse intend to set up a new entity to perform index calculations, with SIX Group owning 50 percent plus 1 share.

Lenz & Staehelin advises Deutsche Börse in this transaction. The team is led by Andreas Rötheli (overall) and includes Pascal Hinny and Nathanel Frischkopf (Tax), Thierry Calame and Michael Egli (IP), Benoît Merkt (Antitrust) as well as Marie Berney, Anil Nair et Felix Gey (Corporate).

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