Deutsche Boerse to Buy GTX's ECN Business From GAIN for $100 Million -- Deal Digest
30 Maggio 2018 - 9:29AM
Dow Jones News
By Nathan Allen
ACQUIRER: Deutsche Boerse AG (DB1.XE)
SELLER: GAIN Capital Holdings Inc. (GCAP)
TARGET: GTX's ECN business, a foreign-exchange trading platform.
GTX is the institutional arm of GAIN.
PRICE: $100 million
STATUS: The companies have reached a definitive acquisition
agreement.
RATIONALE: The deal will expand Deutsche Boerse's participation
in the global foreign-exchange market and fits with its strategy to
pursue add-on acquisitions. The exchange operator says the deal
should be cash-accretive from one year after closing and should
generate a return of 10% after three years.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
May 30, 2018 03:14 ET (07:14 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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