acquisition of
Cboe Global Markets & EuroCCP
Sole financial adviser to the Dutch Central BankKempen & Co is pleased to announce its role in the acquisition of EuroCCP by Cboe Global Markets as sole financial adviser to the Dutch Central Bank
Transaction highlights
- Cboe Global Markets (“Cboe”), one of the world’s largest exchange holding companies, has acquired European Central Counterparty (“EuroCCP”), the leading pan-European equities clearing house, from the selling shareholders Euronext, Nasdaq, DTCC, and ABN AMRO.
- The transaction was announced in December 2019 and has closed in July 2020 after a.o. the successful syndication of a committed liquidity facility of up to €1.5 billion and receipt of regulatory approvals
- With the acquisition Cboe aims to bolster its growth strategy in Europe by enhancing its current equities business and pursue additional opportunities in equity derivatives trading and clearing in the region
- Kempen & Co acted as sole financial adviser to the Dutch Central Bank (“DNB”) in the sale of EuroCCP and supported DNB with independent advice and thorough analyses
- The transaction is further testament to Kempen & Co’s expertise at the cross-section of Financial Institutions and FinTech. Recently, the team also advised on a.o. the acquisition of VIVAT by NN Group & Athora, the sale and capital increase of TerraPay (global B2B payments infrastructure provider) and the Series C capital increase of dacadoo (global InsurTech & HealthTech company)
About Cboe Global Markets
- Headquartered in Chicago and publicly traded company with a market cap of ~$11 billion (July 2020)
- Cboe Global Markets is one of the world’s largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world
In March 2017, Cboe acquired Bats Global Markets for a consideration of ~$3.4 billion - The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (“ETPs”), global foreign exchange (“FX”) and volatility products based on the Cboe Volatility Index (“VIX Index”)
About EuroCCP
- European Central Counterparty (“EuroCCP”) is a central counterparty. Central counterparties (“CCPs”) give protection to both parties in a trade, providing assurance to each party that the trade will settle at the agreed price in the event one party defaults on its obligations
- EuroCCP clears trades for 37 trading venues, which represent close to 95 percent of Europe's equity landscape, making it the most connected equity central counterparty in the region. The company clears on average between four to five million trade sides daily, totalling €30 to €40 billion in value, and provides clearing members with easy access and the ability to maximize operational efficiency and netting opportunities while reducing risk and cost
- Headquartered in Amsterdam, EuroCCP was formed in 2013 to provide safe and efficient equities clearing and settlement services throughout Europe
Contact
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European FinTech
IPO
Accelerated Bookbuild Offering
Private Placement of shares in
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Accelerated Bookbuild Offering
US Public Offering
Accelerated Bookbuild Offering
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and
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to
Accelerated Bookbuild Offering
Capital increase
Global offering
US public offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
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a subsidiary of
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Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
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Acquisition of
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Increase of stake in
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Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Accelerated bookbuild offering
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of
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by
Private placement
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of
Dutch wealth management activities
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of
from
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Initial public offering on NASDAQ
Share buy-back program
Acquisition by
of
Accelerated bookbuild offering
Public offer by
for
Public takeover by German Vonovia
For Austrian Conwert
Accelerated bookbuild offering
Rights issue
Sale of 19% stake in
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Acquisition of the North American rights to RUCONEST by
from
Acquisition by
of
from
Strategic study
Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
Strategic study
Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Management participation advisory in dual-track sale process
Refinancing
Initial Public Offering
Initial public offering
Rights issue
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Initial public offering
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of
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Convertible bond issue
Fairness opinion in the public offer by
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Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
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from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
Equity issue
Refinancing
Sale of majority of shares to
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Initial public offering
Secondary offering
Accelerated bookbuild offering
Public offer by
for
Private placement
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for
Accelerated bookbuild and private placement
Rights issue