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NYSE Euronext and Borsa Italiana announce the signing of an agreement for the sale of NYSE Euronext’s stake in MBE Holding
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August 3, 2007 – NYSE Euronext (NYSE Euronext: NYX) and Borsa Italiana have signed an agreement regarding MBE Holding, their joint venture that owns 60.37% of Società per il Mercato dei Titoli di Stato S.p.A. (“MTS”), and MTSNext. Under the terms of the agreement, NYSE Euronext’s 51% stake in MBE Holding and 33% stake in MTSNext are valued at €100 million (dividend attached).
The agreement follows the exercise of Borsa Italiana’s call option right to purchase all the shares held by Euronext N.V., a subsidiary of NYSE Euronext, in MBE Holding and MTSNext. The call option right was triggered due to the change of control of Euronext N.V. resulting from its combination with NYSE Group, Inc.
The closing of the transaction is expected by mid-September 2007.
About MBE Holding
MBE Holding is a joint venture entity formed between Euronext (51%) and Borsa Italiana (49%) which owns 60.37% of Società par il Mercato dei Titoli di Stato, or MTS. MTS is a regulated European electronic exchange for government bonds and other types of fixed income securities. The joint venture agreement between Euronext and Borsa Italiana provides that, in the event of a change of control with respect to one party, the other party has the right to purchase all of the affected party’s shares in MBE Holding at fair market value within 90 days of the change of control. The combination of NYSE Group and Euronext was consummated on April 4, 2007.
About MTSNext
MTSNext is a joint venture between MTS and Euronext N.V. responsible for the management and promotion of the EuroMTS Indices.
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.8 trillion/€22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/€94.0 billion (as of June 29, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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