SIX finalizes acquisition of controlling stake in BME

Maria Nikolova

SIX has acquired a total of 77,899,990 BME shares, representing 93.16% of BME’s equity share capital.

Swiss financial markets infrastructure operator SIX Group AG today announces the successful completion of its all-cash voluntary tender offer for Bolsas y Mercados Españoles (BME), securing an acceptance level of 93.16% of BME’s share capital.

A total of 77,899,990 shares have been tendered at a price of 32.98 euros, representing a total of EUR 2,569 million or CHF 2,748 million. Following the settlement, SIX will acquire control of BME, which will become part of SIX.

The combination of BME and SIX is set to create a more diversified group with a strong presence across Europe, SIX believes that this transaction will strengthen both the Spanish and Swiss ecosystems bringing new capabilities to BME and SIX participants and attracting new global capital pools to Spain. Strategic use of financial information and data is increasingly important in market infrastructure, and this combination will produce an entity with the scale and flexibility to further invest in innovative solutions for its clients and partners.

SIX will continue to fully deliver its core Swiss financial markets infrastructure services, now enhanced by BME’s expertise in areas such as fixed income, derivatives and indices. BME will continue to fully deliver its core services to their customers in Spain and will benefit from new financial information solutions, as well as blockchain and distributed ledger technology solutions.

The combined group will have the flexibility to deploy more capital on new projects and accelerate investments in innovation. SIX recognises the different opportunities offered by the Spanish market and intends to preserve and further invest in local infrastructures to attract new investors.

The management team of the enlarged group will reflect this new reality: the board of directors of BME will comprise a significant percentage of Spanish representatives and will reflect the new ownership structure, while SIX will propose to give entry to two independent Spanish directors of BME to its own board while Javier Hernani Burzako, CEO of BME, will become a member and join the SIX Executive Board, effective immediately.

SIX has been advised by Credit Suisse, Alantra and Santander (joint financial advisors) as well as Linklaters (legal advisor) on the transaction.

Read this next

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

Web3

COTI Teams Up with Civic for Enhanced Digital Identity Control

СOTI and Civic are teaming up to enhance digital identity security in Web3, aiming to provide users with more control over their digital selves through innovative technology.

Digital Assets

BlockDAG Takes on Chainlink (LINK) Crypto, and RON With DeFi Card and 5000x Profit Potential

Explore BlockDAG’s innovative DeFi card, which transforms cryptocurrency into spendable cash, alongside Chainlink (LINK) crypto and Ronin’s advancements.

Digital Assets

Court finally decides on Sam Bankman-Fried sentence, experts predict 20 years

Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, is set to face sentencing on Thursday in a pivotal moment that could see the entrepreneur beginning a lengthy period in federal prison.

Crypto Insider

DeFi Winter Thaws: A Look at the Emerging Landscape

The past year has seen a significant shift in the Decentralized Finance (DeFi) market, transitioning from a period of decline (“DeFi winter”) to a potential season of growth.

Digital Assets

KuCoin announces $10 million airdrop as users withdraw $1.2 billion

KuCoin – the fourth-largest crypto exchange in the world by trading volume – today announced plans to distribute $10 million worth of Bitcoin and its native KCS token via an airdrop event.

<