TZ1 Registry Is Expected To Fall In Ownership Of Markit

Markit, a financial information services company headquartered in UK, is considering to acquire TZ1 Registry, wholly owned registry business of NZX Limited. The acquisition is expected to complete in the first quarter of 2009. TZ1 Registry is the arm of

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Markit, a financial information services company headquartered in UK, is considering to acquire TZ1 Registry, wholly owned registry business of NZX Limited. The acquisition is expected to complete in the first quarter of 2009.

TZ1 Registry is the arm of the wider TZ1 carbon market business that records carbon credit generation, purchase and retirement. Markit is a provider of data, valuations and trade processing services for the over-the-counter (OTC) markets, including the OTC commodities markets.

Under the terms of the proposed transaction, NZX will sell Markit 100% of the shares of TZ1 in exchange for consideration payable in Markit shares.

“NZX considered retaining TZ1 as a 100% owned subsidiary, based on our strong belief that the management team would continue to grow the business successfully from New Zealand,” says Mark Weldon, CEO,NZX. “However, the opportunity to cement a transaction with Markit that retained a meaningful economic interest for NZX in the TZ1 Registry business, and to combine that with Markit’s global reach and distribution networks, was compelling.”

“TZ1 has established itself as a key player in the carbon markets and we are delighted to partner with NZX in this exciting area,” says Lance Uggla, CEO, Markit. “Combined with Markit, we will be able to facilitate the next important stage in the company’s growth and help the markets to develop further by increasing transparency in the environmental markets.”

“TZ1 has created a world-class brand in environmental credit registries and is a leading player in the development of standards in the US and UK,” says Niall Cameron, executive vice president, Markit. “We see the TZ1 product, the team and its rapidly growing client base as a natural complement to our own global data offering.”

L.D.

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