By Kevin McCauley
Sard Verbinnen & Co and Germany's Hering Schuppener Consulting are handling today’s official announcement that Germany’s Deutsche Boerese is taking over the New York Stock Exchange.
The Germans will control 60 percent of the not yet named venture that will create the world’s leading in derivatives and have revenues of $5.4B. The partners expects the combination will result in savings of $400M.
DB will appoint nine directors to the 15-member board that will be chaired by DB CEO Reto Francioni, who will be responsible for overall strategy and global relationship management. NYSE Euronext CEO Duncan Niederauer will helm the venture that will be incorporated in the Netherlands.
George Sard and Paul Verbinnen are working the deal with HSC’s Alexander Geiser and Simon Steiner.
|