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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Börse AG    DB1   DE0005810055

DEUTSCHE BÖRSE AG

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Deutsche Börse : UBS sells majority stake in Fondcenter to Deutsche Boerse's Clearstream

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01/21/2020 | 04:37am EST

Deutsche Boerse's Clearstream is buying a majority stake in UBS's fund distribution company Fondcenter for around $400 million, the companies announced on Tuesday.

Deutsche Boerse, which is flush with cash, has been eagerly seeking out deals under Chief Executive Officer Theodor Weimer, who has made mergers and acquisitions a pillar of his strategy.

The 51% stake for 389 million Swiss francs (309.3 million pounds) leaves UBS with a 49% minority stake, Deutsche Boerse said.

As part of the deal, Clearstream - Deutsche Boerse's post-trade service provider - and UBS have agreed to a long-term cooperation to provide services to UBS.

The transaction is expected to close in the second half of the year.

(Reporting by Michael Shields in Zurich and Tom Sims in Frankfurt; editing by Brenna Hughes Neghaiwi and Michelle Martin)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BÖRSE AG 1.42% 157.2 Delayed Quote.10.60%
UBS GROUP -0.12% 12.91 Delayed Quote.6.05%
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Financials (EUR)
Sales 2020 3 155 M
EBIT 2020 1 729 M
Net income 2020 1 159 M
Debt 2020 1 116 M
Yield 2020 2,04%
P/E ratio 2020 24,8x
P/E ratio 2021 22,3x
EV / Sales2020 9,49x
EV / Sales2021 8,52x
Capitalization 28 815 M
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Technical analysis trends DEUTSCHE BÖRSE AG
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 22
Average target price 150,74  €
Last Close Price 157,20  €
Spread / Highest target 11,9%
Spread / Average Target -4,11%
Spread / Lowest Target -17,3%
EPS Revisions
Managers
NameTitle
Theodor Weimer Chief Executive Officer
Joachim Faber Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Gregor Pottmeyer Chief Financial Officer
Karl-Heinz Flöther Member-Supervisory Board
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