Chi-X Europe valued at £300m

19 October 2010

Chi-X Europe has been advised its market value should be £300 million amid media speculation over a potential sale, reports claim

Parties which have expressed an interest in acquiring the equities trading exchange have been sent details on the potential opportunity.

Nasdaq OMX is thought to be among the would-be bidders for the exchange after chief executive Robert Greifeld said in an interview earlier in the year that the organisation would be “a willing recipient of the Chi-X book”.

Lexicon Partners and Deutsche Bank have been appointed as advisors to the exchange over a potential sale.

Speculation that a buyer will appear has been fuelled by the firm confirming that it had received an offer from a third party during August of this year.

At the time, John Woodman, chairman of Chi-X Europe, said: “Any future offer must be examined and assessed to ensure that it fully values the company and also we must take into consideration the strategic interests of shareholders/stakeholders.”

He added that the “interest in Chi-X Europe is a result of our track record in becoming a major European exchange over the last three years and our move into profitability in 2010”.

By Jim Ottewill

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