The Nasdaq OMX Group (Nasdaq:NDAQ) announces the acquisition of Nord Pool ASA, the world's largest power derivatives exchange and one of Europe's largest carbon exchanges, following Statnett's and Svenska Kraftnat's decision to exercise their option to sell the shares in the company. Financial terms were not disclosed.
In October 2008, NASDAQ OMX acquired Nord Pool Clearing ASA and Nord Pool Consulting AS from Nord Pool ASA. In addition, the owners of Nord Pool ASA, Statnett and Svenska Kraftnat, received an option to sell the shares in Nord Pool ASA to NASDAQ OMX at a later date. Statnett and Svenska Kraftnat have now decided to exercise that option. The transaction is subject to regulatory approvals. The acquisition does not comprise the Nordic physical electricity market operated by Nord Pool Spot AS.
Nord Pool ASA will be a part of NASDAQ OMX Commodities, which is the common offering within commodities from the NASDAQ OMX Group. Today's activity in Nord Pool ASA will continue from the premises in Lysaker outside of Oslo, Norway.
"The transaction has strong strategic rationale by reuniting the power and carbon derivatives exchange and clearing business under the same parent, allowing attractive upside opportunities," says Geir Reigstad, Head of NASDAQ OMX Commodities. "It will broaden the current commodities product range and the aim is to attract new financial participants onto the platform and increase liquidity and volume."