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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Deutsche Boerse Ag Namen Akt (PK) | USOTC:DBOEF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 242.89 | 242.89 | 242.89 | 0.00 | 00:00:00 |
From Jan 2020 to Jan 2025
By Colin Kellaher
Deutsche Boerse AG on Tuesday said it agreed to buy a roughly 80% stake in Institutional Shareholder Services Inc. in a deal that values the proxy-advisory firm at $2.275 billion.
The German stock-exchange operator said private-equity firm Genstar Capital LLC and current ISS management will retain a stake of about 20% in the Rockville, Md., company.
Deutsche Boerse said it will finance the acquisition, which it expects to complete in the first half of 2021, with cash on hand and the issuance of about 1 billion euros (US$1.19 billion) of debt.
Genstar is the second private-equity firm to reap a handsome profit on ISS in the last few years. The San Francisco firm teamed with ISS management in 2017 to buy the proxy adviser for $720 million from Vestar Capital Partners, which originally acquired ISS in 2014 for around $364 million, including debt.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 17, 2020 14:20 ET (19:20 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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