STOCKHOLM, Dec 21 (Reuters) - 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 million crowns.
OMX was advised by Arctic Securities on the deal and Nord Pool ASA has been advised by Fondsfinans. (Editing by David Cowell)