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Euronext To Buy 66% Of Share Capital And Voting Rights Of Nord Pool Group

Euronext (ENXB.BE,ENX.BR,ENX.AS,ENX.PA) said that it reached binding agreements to acquire 66% of the share capital and voting rights of the Nord Pool group, which runs a physical power market in Europe, operating from its headquarters in Oslo and offices in Helsinki, Stockholm, Tallinn, Berlin and London. The enterprise value on a debt-free cash-free basis for 100% is 850 million Norwegian Kroner or 84 million euros.

Euronext noted that it will enter into a partnership with the Nordic and Baltic Transmission System Operators that currently own Nord Pool, and who will retain a 34% stake through a joint holding company.

The transaction is expected to close in the first-quarter of 2020.

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