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Deutsche Boerse unit EEX says takes over U.S. peer Nodal
March 3, 2017 / 5:43 PM / 8 months ago

Deutsche Boerse unit EEX says takes over U.S. peer Nodal

FRANKFURT, March 3 (Reuters) - Germany’s energy exchange (EEX), part of Deutsche Boerse AG is to purchase all shares in sector peer Nodal, based in Virginia, United States, Deutsche Boerse said on Friday.

It said the purchase price was in the low “three digit million dollar range.”

The execution of binding agreements would take place shortly, with the acquisition depending on regulatory approvals, it said.

“The acquisition gives Deutsche Boerse access to the North American energy markets and enables it to expand its global presence and membership in accordance with its growth strategy,” EEX said in a statement.

Nodal, a futures bourse, offers 1,000 power and gas contracts for 100 locations and offers a gas contract for the Henry Hub delivery point, the U.S. gas benchmark location.

Reporting by Vera Eckert, editing by Andreas Cremer.

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