The combination of BME and SIX is expected to create a diversified firm with enhanced footprint across Europe


SIX closes acquisition of BME. (Credit: SIX.)

Swiss financial markets infrastructure operator SIX has completed the acquisition of Bolsas y Mercados Españoles (BME), the operator of the Spanish stock exchanges for $3.16bn

To acquire control of BME, SIX has acquired a 93.16% of BME’s equity share capital at €32.98 per share.

The combination of BME and SIX is expected to create a diversified firm with enhanced footprint across Europe.

It is expected to benefit from from an expanded geographical reach, an increased range of products and services, and an improved technical infrastructure.

Earlier this year, the Swiss firm had proposed to acquire 100% of the Spanish stock market operator for €33.40 per share in an all-cash deal.

BME to benefit from new financial information solutions

The combined company will become the third largest European financial market infrastructure group by revenue.

SIX said that the transaction is expected to strengthen both the Spanish and Swiss ecosystems and bring new capabilities to BME and SIX participants.

Further, the combination entity will have the scale and flexibility to further invest in innovative solutions for its clients and partners, according to the Swiss firm.

The core Swiss financial markets infrastructure services provided by SIX are expected to be enhanced by BME’s expertise in areas such as fixed income, derivatives and indices.

The transaction will enable BME to benefit from new financial information solutions, as well as blockchain and distributed ledger technology solutions.

SIX CEO Jos Dijsselhof said: “With the successful completion of this transaction, we have laid the foundations of what is now the third largest infrastructure operator in Europe.

“The combination of BME and SIX will provide us with the strength and scale to address the challenges presented by current circumstances, and to serve our market participants more effectively in the years to come.

“The integration of our products and services will allow us to generate value, grow revenues and compete globally. The combined group will be more ambitious and innovative, investing in opportunities that would have been unavailable to the separate entities.

“Together, we will succeed in driving the transformation of financial markets, to our own benefit and that of the ecosystem that surrounds us.”