Euronext announced last week the acquisition of the Irish Stock Exchange (ISE) for an amount of €137m for 100% of the shares and voting rights. This will be entirely financed with debt. As of 30 September, Euronext’s cash position is €140.6m with an undrawn available RCF line of €250m. Based on 2016 numbers, the transaction is worth 17× 2016 earnings and a more reasonable 15× 2017 run-rate earnings based on the first nine months. This acquisition allows Eurone
05 Dec 2017
Acquisition of the Irish Stock Exchange
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Acquisition of the Irish Stock Exchange
Euronext NV (ENX:WBO) | 0 0 1.2% | Mkt Cap: 3,756m
- Published:
05 Dec 2017 -
Author:
Farhad Moshiri -
Pages:
3
Euronext announced last week the acquisition of the Irish Stock Exchange (ISE) for an amount of €137m for 100% of the shares and voting rights. This will be entirely financed with debt. As of 30 September, Euronext’s cash position is €140.6m with an undrawn available RCF line of €250m. Based on 2016 numbers, the transaction is worth 17× 2016 earnings and a more reasonable 15× 2017 run-rate earnings based on the first nine months. This acquisition allows Eurone