Nyse Euronext to buy Powernet carbon emissions unit

Source: Nyse Euronext

NYSE Euronext today announced it has reached an agreement with Powernext in order to acquire Powernext Carbon, the company's emission permit division.

Powernext is the leading spot market in Europe in this area and will provide the basis for an organized international market in CO2 emission permits and credits to be developed in association with Caisse des Dépôts et Consignations (CDC).

This transaction, which remains subject to the approval of the Extraordinary General Meeting of Powernext shareholders on December 21, would be coupled with NYSE Euronext's complete withdrawal from Powernext through the sale of its 34% interest in the company.

As announced on 22 October 2007, from early 2008 a joint venture between NYSE Euronext and Caisse des Dépôts et Consignations will offer the full range of international market services for carbon emission permits, from trading to settlement and delivery.

This project will benefit from NYSE Euronext's international network and know-how in market operations and the recognized expertise of Caisse des Dépôts et Consignations in carbon emission finance, particularly as regards permit markets and settlement and delivery.

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