EDX London will pay OM a consideration of up to £24.0 million for the transfer of the Scandinavian equity derivatives business of OM London Exchange. An initial payment of £12.8 million will be paid on completion, with an additional payment of up to £11.2 million payable on achievement of certain revenue targets by EDX London by 31 December 2005.
London Stock Exchange holds a 76 per cent controlling stake in the new company and OM holds a 24 per cent interest through its subsidiary Stockholmsbörsen AB. Investment in EDX London will be pro rata.