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

DEUTSCHE BÖRSE AG

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Euronext to buy control of Nordics power market firm Nord Pool

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12/05/2019 | 04:13am EST
FILE PHOTO: Logo of Euronext is seen on the headquarters at La Defense business and financial district in Courbevoie near Paris

Euronext has agreed to buy a controlling stake in Nordic-focused power market firm Nord Pool, boosting the European stock market operator's presence in the region after its takeover of the Oslo stock exchange earlier this year.

Euronext said on Thursday it would buy 66% of Nord Pool's share capital and voting rights. The deal gives the whole of Nord Pool an enterprise value of 850 million Norwegian crowns (72 million pounds), the two companies said.

The Nord Pool group was created in 1993 and offers power trading, clearing, settlement and associated services in both day-ahead and intraday physical energy markets.

"By joining forces with Euronext, Nord Pool will be even better positioned to support the shift to new ways of managing power supply in the face of climate change and the transition to sustainable growth," said Euronext Chief Executive and Chairman Stephane Boujnah.

Euronext, which is also in a tussle with Swiss company SIX Group to acquire Spanish bourse BME, expects the Nord Pool deal to close in the first quarter of 2020.

"With its 140 highly skilled employees, Nord Pool will strengthen Euronext's objective to grow its presence in the Nordics and reinforce the center of excellence for commodities managed from Oslo since the acquisition of Oslo Borse VPS," Boujnah added.

Euronext is a relatively small player compared with European rivals LSE and Deutsche Bourse, but has gradually built up scale in equities, operating exchanges including Norway, Netherlands, Belgium and Ireland.

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HOLDING DE MERCADOS Y SISTEMAS FINANCIEROS, S.A. -0.06% 35 End-of-day quote.1.80%
DEUTSCHE BÖRSE AG 0.89% 148 Delayed Quote.4.60%
EURONEXT N.V. 0.90% 78.2 Real-time Quote.6.61%
LONDON STOCK EXCHANGE PLC 0.66% 7674 Delayed Quote.-1.63%
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Financials (EUR)
Sales 2019 2 938 M
EBIT 2019 1 590 M
Net income 2019 1 025 M
Debt 2019 1 009 M
Yield 2019 2,03%
P/E ratio 2019 26,3x
P/E ratio 2020 23,0x
EV / Sales2019 9,49x
EV / Sales2020 8,76x
Capitalization 26 872 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 145,23  €
Last Close Price 146,60  €
Spread / Highest target 20,0%
Spread / Average Target -0,94%
Spread / Lowest Target -12,0%
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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