Pan-European exchange Euronext, which spans Belgium, France,The Netherlands, Portugal and the UK, has today complete its acquisition of 100 percent of the shares and voting rights of the Irish Stock Exchange, after receiving regulatory approvals.
The Irish Stock Exchange (ISE), now operating under the business name Euronext Dublin, will now be one of the six core countries of Euronext with CEO of the ISE, Deirdre Somers appointed as Euronext Dublin’s CEO.
Commenting on the acquisition, Somers said: “This is a historic day for Irish capital markets. We are excited to be part of the Euronext federal model and the opportunities that it delivers to listed companies and Irish enterprises to access wider pools of international capital and corporate services.”
She added: “We are looking forward to building on our reputation as a global leader in debt products to develop the Euronext centre of excellence in listings of Debt & Funds and ETFs to meet market needs.”
With more than 37,000 listed bonds and 5,600 funds, the combined Group is the largest centre for debt and funds listings in the world. It also has 1,050 listings for ETFs.
On the future of the new combined Group, Chief Executive Officer and Chairman of the Managing Board of Euronext, Stéphane Boujnah, said: “We have a strong growth plan to strengthen our leadership in debt and funds listings, and to be the entry point for ETF growth, while generating synergies through the integration of Euronext Dublin.”
He concluded: “This significant extension of the federal model will also reinforce Euronext’s post-Brexit strategic position and allow the Group to capture growth opportunities that arise, with a disciplined M&A approach.”
Euronext Dublin will be consolidated in Euronext financials starting 1st April, 2018.
Source: www.businessworld.ie