Financial News
Written by: Zhang Weilun
2020-11-18 10:20
Last update date: 2020-11-18 10:20
The German Stock Exchange announced that it will spend 1.8 billion euros (approximately 14 billion yuan) to acquire an 80% stake in Institutional Shareholder Service (ISS).
The current controlling shareholder of ISS is Genstar Capital.
In 2017, it purchased ISS from the private equity fund Vestar Capital Partners for US$720 million.
If calculated at the price made by Deutsche Börse, the ISS corporate valuation is approximately US$2.3 billion.
After the transaction is completed, Genstar will retain a 20% interest.
In order to complete this transaction, Deutsche Börse intends to borrow 1 billion euros. The management hopes that after the completion of the acquisition, the group's business scale can be expanded.
Mergers and acquisitions
