Gruppe Börse Stuttgart
Gruppe Börse Stuttgart: Börse Stuttgart to acquire the NGM markets in Sweden
Gruppe Börse Stuttgart / Mergers & Acquisitions Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Börse Stuttgart to expand its international business/ Creation of a powerful exchange for private investors/ Boards of NGM Holding and NGM give full support Today Börse Stuttgart, Germany's leading stock exchange for retail investors and Europe's leading exchange organisation for trading in securitised derivatives, and Nordic Growth Market NGM Holding AB (publ) ('NGM Holding'), Sweden's second established exchange organisation, have announced that they have signed a definitive agreement whereby Börse Stuttgart will acquire Nordic Growth Market NGM AB ('NGM') for SEK 40 million (approximately EUR 4 million). The Swedish Financial Supervisory Authority, 'Finansinspektionen', has granted Börse Stuttgart permission to acquire Nordic Growth Market NGM AB. A joint press conference with representatives from Börse Stuttgart and NGM will be held in Stockholm on Monday, 17 November 2008 (details below). Börse Stuttgart, which is Germany's second largest exchange, will become the sole owner and operator of the NGM exchanges and will continue and develop its operations in Stockholm, Sweden. The transaction is subject to approval by the shareholders of NGM Holding at an Extraordinary General Meeting to be held on 21 November 2008. The boards of NGM Holding and NGM fully support Börse Stuttgart's acquisition of NGM and recommend that the shareholders vote in favour of the transaction. 'We have been seeking an alternative for the NGM stock exchange for quite some time and firmly believe that Börse Stuttgart will be a good owner, given its success and experience as Germany’s second largest stock exchange. For the NGM shareholders this is a good solution both from a commercial and financial point of view. We unanimously recommend that our shareholders support this agreement,' says Heléne Bergquist, Chairperson of NGM Holding. NGM will play an important role in Börse Stuttgart’s ambition to develop the Nordic market and will concentrate on encouraging transparency at all levels of trading, the education of retail investors and the development of both the trading platform and the market model. 'Entering the Nordic market is part of our international strategy. We firmly believe in organising regional markets for private investors because retail business is local business. We are well matched with NGM and its market participants. The Nordic region and Sweden in particular, are very sophisticated financial markets with a sound investment culture concerning retail investors,' says Christoph Lammersdorf, CEO of Börse Stuttgart. 'We will contribute all our expertise and trust to this venture in order to develop the market for retail investors in the Nordic region, as we have done in Germany with so much success. NGM has been committed to offering an alternative to a former monopoly and has proven that good service and new instruments are able to attract local demand,' adds Ralph Danielski, Deputy CEO of Börse Stuttgart, responsible for trading and business development. Börse Stuttgart has substantial experience in running an exchange with a broad range of listed instruments such as equities, bonds, securitised derivatives, exchange-traded funds and mutual funds, together with connected services. The exchange, which dates back to 1860, has almost 970 listed German companies, over 4,500 international companies and a total of over 370,000 listed products. The turnover of securities traded in 2007 amounted to EUR 185 billion. The stock exchange is supervised by the Baden-Württemberg Exchange Supervision Authority, 'Börsenaufsichtsbehörde'. Börse Stuttgart is owned by an exchange association (Vereinigung Baden-Württembergische Wertpapierbörse e.V.) and employs some 300 people. NGM runs the regulated markets NGM Equity and NDX and the trading platform Nordic MTF. All trade is conducted electronically in real time through the NGM trading system Freeway. NGM is the only exchange besides Nasdaq OMX in Sweden, authorised by the Swedish Financial Supervisory Authority. Currently NGM has 43 listed companies on NGM Equity and 30 companies on Nordic MTF. NGM is the second largest marketplace for equities trading in Sweden. The Nordic Derivatives Exchange (NDX) is a regulated market for the listing and trading of derivatives, bonds and other structured products. In 2006 it overtook OMX Stockholm to become the largest marketplace for certificates and warrants in the Nordic region. NGM has its main activities in Sweden, but has started operations in Norway and Finland. The head office is located in Stockholm. In September 2008 the company had 24 employees. In October 2008 NGM had its permission to conduct regulated exchange business withdrawn by the Swedish Financial Supervisory Authority, Finansinspektionen. The reason for this withdrawal was partly because the former Board of NGM did not comply with the supervision of the Authority. NGM was given six months to end its activities. NGM Holding thereafter decided to seek new owners for its subsidiary NGM AB, which will be acquired by Börse Stuttgart. Börse Stuttgart is confident that as new owners of NGM they will regain the license to conduct regulated exchange business. Swedbank is financial adviser, Baker & McKenzie is legal adviser and Hallvarsson & Halvarsson is communication adviser to Börse Stuttgart. Börse Stuttgart • Börsenstrasse 4 • 70174 Stuttgart Germany Philipp Hahn and Uwe Velten Phone: +49 (0)711 222 985-511 Fax: +49 (0)711 222 985-555 Email: presse@boerse-stuttgart.de 17.11.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Gruppe Börse Stuttgart Börsenstr. 4 70174 Stuttgart Deutschland Phone: +49 (0)711-222-985-0 Fax: +49 (0)711-222-985-545 E-mail: presse@boerse-stuttgart.de Internet: www.boerse-stuttgart.de ISIN: DE0005858401 WKN: 585840 End of News DGAP News-Service ---------------------------------------------------------------------------
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