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Euronext said Wednesday announced it is buying the Irish Stock Exchange in a deal worth 137 million euros ($162 million), adding to an eurozone portfolio that includes the bourses of Paris, Amsterdam, Brussels and Lisbon.
The deal comes with Ireland’s exchange out to deepen financial ties with fellow EU exchanges as neighbouring Britain heads for Brexit.
It will also bolster Euronext’s position vis-a-vis rivals such as Deutsche Boerse as well as the London Stock Exchange Group.
The operation is set to go through early next year, with Dublin being integrated onto the Euronext platform from 2019, despite earlier fears that the deal might founder on anti-trust and competition considerations.
A statement from Euronext and the Dublin exchange confirmed the news which had been leaked hours earlier in The Irish Times.
‘The Irish Stock Exchange joining Euronext represents a major milestone in the expansion of Euronext’s federal model since its IPO,’ said Euronext CEO and chairman Stephane Boujnah, noting strong Irish growth projected this year at 4.3 percent this year.
‘ISE brings to Euronext leading global positions in debt, funds and ETF listings markets. As part of Euronext, ISE’s growth initiatives will be reinforced with Euronext’s full support.
‘ISE is ideally positioned to benefit from market opportunities in a post-Brexit environment.’
Deirdre Somers, ISE CEO, said: ‘This is a landmark day in the 224-year history of ISE and a great day for our customers and our people.
‘This transaction recognises the significant value and leading market position that has been built by the ISE. More importantly, we believe that Euronext is the perfect partner to enable us to achieve our growth ambitions.
‘Euronext is hugely complementary to the ISE, bringing valuable expertise, financial strength, global relationships and technological capability as well as a global brand.’
The ISE is known for its expertise notably on exchange traded funds.
With Britain leaving the EU bloc, Dublin is now keen to anchor itself further in the eurozone.
The Dublin exchange saw a 21 percent rise in profit last year as revenues rose 6 percent to 29.4 million euros ($35 million) and profit after tax of 8 million euros.
At the start of November, Euronext showed net profit up 0.6 percent at 38.3 million euros for the third quarter. 
For 2016, the group saw net profit rise 14 percent to 197 million euros even as revenue slid 4.23 percent to 496.4 million euros.