Deutsche Brse AG announced that its Supervisory Board approved the terms of an offer to be made for the acquisition of Cedel International S.A. and its 50 percent ownership in Clearstream International S.A.
Deutsche Brse made the announcement following the Supervisory Board meeting. The offer will be subject to an affirmative vote by a two-thirds majority of Cedel shareholders and to certain further conditions, including regulatory approval. It is expected to be initiated nolater than February 28th.
Upon completion of the transaction, Deutsche Brse would fully integrate Clearstream into Deutsche Brse Group. The company would be the preeminent one-stop handling agent for the securities processing chain, providing services and products throughout the securities industry -beginning with trading and information products all the way throughto clearing and settlement.
This will result in the most efficient, lowest cost securities processing chain. The service levels will increase and the introduction of new products and services across all of Deutsche Brse’s businesses will be accelerated. The combined entity will introduce a system of straight-through-processing and interoperability standards for European capital markets, open at each stage of the securities processing chain.