Dow Jones & Co., a News Corp. (NWS) company, said Thursday that it entered a definitive agreement to sell its one-third interest in STOXX Ltd. and provide certain intellectual-property rights to its joint-venture partners for €206.1 million or about $309 million.
Dow Jones may receive up to a further €29 million or around $44 million, depending on future business performance.
Launched in 1998, Stoxx Ltd. is a three-way joint venture between Dow Jones, Germany's Deutsche Börse AG and Switzerland's SIX Group AG. Following the completion of the transaction, Deutsche Boerse AG and SIX Group will each own 50% of STOXX with Deutsche Boerse holding a one-share majority.
Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close by the end of first quarter of 2010.
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