Deutsche Börse Group completed the divestiture of its remaining shareholding in BATS Global Markets, Inc. (BATS) last night. After receiving a cash and share consideration as part of the acquisition of BATS by Chicago Board Options Exchange, Inc. (CBOE), the CBOE shares were sold in the market.
The divestiture is part of Deutsche Börse’s growth strategy “Accelerate” as announced by CEO Carsten Kengeter in 2015. In this context, Deutsche Börse continues to optimise its portfolio of shareholdings. Furthermore, with “Accelerate” the company is improving its strategic positioning, profitability and ability to innovate.
Deutsche Börse expects a positive impact on the net income of around 68 million euros in the first quarter 2017. In the fourth quarter 2016, Deutsche Börse already realised a net income contribution of around 23 million euros by selling one third of its stake in BATS. The stake in BATS resulted from a participation of the divested International Securities Exchange Holdings, Inc. (ISE) in Direct Edge Holdings, LLC, which later merged with BATS.