Deutsche Boerse’s Eurex unit has acquired a majority stake in Leipzig, Germany-based European Energy Exchange (EEX), The Wall Street Journal reports. More than 20 shareholders in EEX gave up their pre-emption rights to buy Landesbank Baden-Wuerttemberg’s (LBBW) share in EEX.
Eurex, which now holds 35% in EEX, may buy additional 23% shares from LBBW in a second offer round. Eurex will offer LBBW €7.15 per EEX share plus a premium of €0.60 per share in the event that Eurex becomes the majority shareholder, valuing the transaction at €71.3 million.
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