STOCKHOLM Dec 21 OMX OMX.ST said on Friday it
had bought Nord Pool ASA's clearing and consulting operations
and international derivatives products to establish a unit for
international energy derivatives headquartered in Oslo.
Nordic bourse operator OMX said in a statement that Norway's
Nord Pool expects the final purchase price to amount to around
2.3 billion Norwegian crowns ($412.4 million).
OMX said it expects the deal to boost earnings in 2008.
"The transaction creates a foundation for a geographical
expansion within Nord Pool's core area of power, and for
enhancing the existing offering, with a clear ambition to build
a leading European market for CO2 products," OMX said.
OMX said it would pay 1.7 billion Norwegian crowns in cash
and 450 million crowns in a vendor note due to current owners of
Nord Pool within 18 months after completion of the deal. OMX
also agreed to potential further earn-out payments of up to 800
OMX was advised by Arctic Securities on the deal and Nord
Pool ASA has been advised by Fondsfinans.
(Editing by David Cowell)