OMHEX has sold Natural Gas Exchange Canada (NGX) to the Toronto Stock Exchange (TSX Group) for C$38 million (SEK 211.3 million). NGX is a Canadian exchange that trades and clears natural gas and electricity contracts.
The agreement between OMHEX and TSX contains a five-year license for CLICK XT and the parties will look for areas to work together on future business development.
“We are continuing to implement our streamlining program under which we are increasing focus on the financial markets,” says Magnus Bcker, President and Chief Executive Officer of OMHEX. “We are very pleased that NGX will find a new home in the TSX group of companies, the operator of Canada’s two national stock exchanges, and we look forward to evaluating the possibilities of further cooperation with TSX.”
Last year, NGX had revenues of C$13.9 million (SEK 77.3 million) and net income of C$3.4 million (SEK 18.9 million) tended the year with total assets worth C$ 15.3 million (SEK 85.1 million), and a net book value of C$ 13.4 million (SEK 74.5 million).
“This transaction advances our strategy to extend and diversify TSX’s pre-eminent position in Canada while looking for opportunities to grow in the United States,” says Barbara Stymiest, TSX Group’s Chief Executive Officer. “The addition of NGX significantly extends our product and service offering, while at the same time expanding our reach outside of Canada.”
“We are delighted to be joining the TSX family,” adds Peter Krenkel, Chief Executive Officer of NGX. “TSX’s market position and expertise will strongly support the expansion and development of our business.”