Source: Deutsche Börse
Deutsche Börse AG and Hale Global have entered into an agreement regarding the sale of Market News International, Inc. (MNI), a leading provider of macroeconomic and markets intelligence for global fixed income and foreign exchange market professionals.
Details of the deal are subject to a confidentiality agreement.
By divesting its news business, Deutsche Börse further strengthens its focus on growth areas defined in the group-wide “Accelerate” growth strategy, which constitutes organisational and portfolio changes to support the achievement of the Group’s new strategic and financial targets. In 2015, MNI has contributed less than 1 percent to the Group’s net revenues.
The completion of the transaction is expected within the third quarter of 2016. DeSilva and Phillips is advising Deutsche Börse on the transaction. Nixon Peabody is serving as Deutsche Börse’s legal counsel.