09/12/2024
We're delighted to have helped London-based stock market Aquis Exchange with documentation for its £194m acquisition by Swiss-based bourse operator SIX Group, to be effected via a Scheme of Arrangement.
Aquis, which is dual listed on its own Apex market and on AIM, said the acquisition via recommended cash offer would help provide the scale needed to compete against larger firms in the European exchange market.
In its announcement, SIX notes that it considers the acquisition to be a compelling strategic opportunity which will complement its strategy to scale the exchange business beyond its home markets. The combined resources and capabilities of SIX and Aquis create a Pan-European Exchange across traditional primary exchange and MTF businesses. Both companies share a common philosophy regarding capital markets innovation, liquidity and offering choice to users, which will further strengthen the ability of SIX to serve customers in Switzerland, Spain and across Europe. Furthermore, the unique value proposition of combining Aquis’ next-generation technology solutions business with SIX’s capabilities unlocks recurring revenue streams. In addition, it provides the opportunity to create a competitive pan-European listing venue for growth companies by combining Aquis’ and SIX’s growth listing segments.
Our thanks to our wonderful clients at Slaughter & May and Aquis Exchange, and wishing both Aquis and SIX every success in this exciting venture.
If you'd like to find out how we can help ensure the success of your transformational M&A events, chat with us today: hello@blackandcallow.com
