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OSLO, March 17 Nasdaq OMX (NDAQ.O) is buying the
Nordic power exchange Nord Pool ASA for an undisclosed sum, the
U.S. exchange firm said on Wednesday.
Nord Pool ASA is the world's largest power derivatives
exchange, covering the Nordic countries, as well as a major
European carbon exchange. The deal does not include the Nordic
physical electricity market operated by Nord Pool Spot AS.
Nasdaq OMX already owned Nord Pool's clearing activities,
international derivatives and consulting operations, which it
had bought in October 2008.
"The transaction has strong strategic rationale by reuniting
the power and carbon derivatives exchange and clearing business
under the same parent," said Geir Reigstad, head of Nasdaq OMX
Commodities, in a statement.
The decision to buy Nord Pool comes after Nord Pool's
previous owners, power grid operators Statnett and Svenska
Kraftnat, decided to exercise their option to sell the shares in
"Operating a trading place for financial instruments is not
part of Swedish Kraftnat's core business," said Mikael Odenberg,
General-Director of Svenska Kraftnat in a statement.
The transaction is subject to regulatory approvals.
(Reporting by Gwladys Fouche)