Miami International Holdings today announced that its acquisition of The International Stock Exchange Group Limited via its wholly-owned subsidiary, Miami International Holdings East Holdings, Limited, has become effective.
The acquisition is effective by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law of Guernsey.
The cash consideration of £22.50 per TISE ordinary share values TISE at approximately £70.4 million.
“MIH’s acquisition of TISE represents a key milestone in advancing our international growth strategy,” said Thomas P. Gallagher, Chairman and CEO of Miami International Holdings (MIH). “I would like to extend my deepest gratitude to the TISE Board of Directors for their support throughout the process. I am especially grateful to Anderson Whamond for his steadfast guidance and diligence in completing the transaction and I look forward to working with him through the transition process.”
“The acquisition of TISE by MIH signifies the growth of our business and we look forward to collaborating with the MIH team to further strengthen TISE’s credentials as a leading European listing venue,” said Cees Vermaas (pictured), CEO of TISE. “With MIH’s endorsement of our strategy, people and position in the European market, we are well placed to accelerate our growth ambitions, broaden our service offering and deliver greater value to our stakeholders.”
Mr. Gallagher added: “We are excited to establish a presence in Guernsey and believe that TISE’s strong reputation and solid business foundation provide MIH with significant opportunity to enhance our offerings and expand our international footprint through investments in TISE’s technology, business development and operational processes.”
