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NYSE Euronext (NYSE Euronext: NYX) announces that it has been notified today by Borsa Italiana that it has exercised its call option right to purchase all the shares held by Euronext N.V., a subsidiary of NYSE Euronext, in MBE Holding.
The parties will have three months from today’s date to agree on the fair market value of MBE Holding’s shares.
About MBE Holding
MBE Holding is a joint venture entity formed between Euronext (51%) and Borsa Italiana (49%) which owns 60.37% of Società par il Mercato dei Titoli di Stato, or MTS. MTS is a regulated European electronic exchange for government bonds and other types of fixed income securities.
The joint venture agreement between Euronext and Borsa Italiana provides that, in the event of a change of control with respect to one party, the other party has the right to purchase all of the affected party’s shares in MBE Holding at fair market value within 90 days of the change of control. The combination of NYSE Group and Euronext was consummated on April 4, 2007.
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $28.5 trillion/€21.5 trillion total market capitalization of listed companies and average daily trading value of approximately $123.4 billion/€92.4 billion (as of March 31, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
