Deutsche Boerse AG has today announced that it will buy Frankfurt-based 360T’s FX trading platform for 725 million euros ($795 million). Jefferies acted as sole financial advisor.
Deutsche Boerse plans to finance its acquisition through debt and equity, “with the aim to minimise a potential impact on the credit rating.” The transaction will immediately contribute to cash earnings per share and “meet customary ROI targets upon realisation of the mid-term synergy targets,” the exchange says.
Deutsche Boerse also claims that its acquisition of 360T will accelerate the FX trading platform's organic growth trajectory and that the deal with facilitate double-digit million euro revenue synergies in the mid-ter by utilising Deutsche Boerse's international distribution capabilities and expertise.
The deal was widely expected with industry sources openly discussing the price tag Deutsche Boerse was willing to pay.
The completion of the transaction is subject to the approval by competition and supervisory authorities.