11/17/2020, 9:04 PM (Source: TeleTrader)
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Deutsche Boerse acquires US proxy advisor for €1.5B

Deutsche Boerse AG announced on Tuesday the acquisition of a majority stake in proxy advisory firm Institutional Shareholder Services (ISS) in a transaction that will be concluded by the end of the first half of 2021. The German company will acquire approximately 80% of a €1,925 million stake.

ISS provides analyzed data and research solutions for the sectors of governance and sustainability to more than 4,000 clients global-wide and will continue to operate as independently as before. As a result of the acquisition, the company will expand its capital base and will be able to accelerate "organic and inorganic growth initiatives."

According to Deutsche Boerse's announcement, both companies will manage to "jointly exploit the global growth opportunities towards sustainable investments."

Baha Breaking News (BBN) / CG