TMX Group completes acquisition explained by professional Forex trading experts the “TMX Group completes acquisition” FX trading team.
TMX Group completes acquisition
TMX Group Limited (TSX:X) announced it has completed the acquisition of London-based Trayport Holdings Limited, and its U.S.-based affiliate, Trayport Inc. (collectively, Trayport), a provider of technology solutions for energy traders, brokers and exchanges from Intercontinental Exchange, Inc. (ICE) for £550 million / C$931 million in total consideration, including £350 million / C$592 million in cash (the Trayport Acquisition). The transaction was announced in October 2017.
In conjunction with the Trayport Acquisition, TMX Group has completed the sale of Natural Gas Exchange Inc. (NGX) and Shorcan Energy Brokers Inc. (Shorcan Energy) to ICE, at a combined value of £200 million / C$339 million. The sale of NGX and Shorcan Energy was used as partial consideration by TMX Group for the Trayport Acquisition.
The cash consideration for the Trayport Acquisition was satisfied from the net proceeds from the TMX Group debenture offering which closed on December 11, 2017, along with excess cash and borrowings under TMX Group’s commercial paper program.
The UK Competition and Markets Authority has approved the sale of Trayport to TMX Group. The Commissioner of Competition has issued a “no action” letter in respect of the sale of NGX and Shorcan Energy to ICE.
TMX Group completes acquisition Conclusion
For more information about currency trading brokers visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading
experts please by share this article about TMX Group completes acquisition