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ASX LIMITED — M&A Activity 2013
May 30, 2013
64439_rns_2013-05-30_9c898324-7060-4c0b-aba5-53f9eab75b35.pdf
M&A Activity
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ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215 Telephone +61 2 9227 0000 www.asx.com.au
31 May 2013
Australian Securities and Investments Commission Mr Oliver Harvey Senior Executive Leader, Financial Market Infrastructure Level 5, 100 Market Street SYDNEY NSW 2000
ASX Market Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000
ASX acquires d-cyphaTrade Limited
Attached is a market announcement relating to ASX’s acquisition of d-cyphaTrade Limited.
Amanda J Harkness
Group General Counsel & Company Secretary
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ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215 Telephone +61 2 9227 0000 www.asx.com.au
31 May 2013
Australian Securities and Investments Commission Mr Oliver Harvey Senior Executive Leader, Financial Market Infrastructure Level 5, 100 Market Street SYDNEY NSW 2000
ASX Market Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000
ASX acquires d-cyphaTrade Limited
Transaction to accelerate expansion of ASX energy business
ASX has today entered into an agreement to acquire d-cyphaTrade Limited (“d-cypha”) from Transpower New Zealand Limited. Under the agreement, ASX will acquire 100% of the shares in d-cypha for an acquisition price of A$55 million.
Since 2002, d-cypha and ASX have jointly developed the electricity derivatives market in Australia. d-cypha researches, develops, markets and promotes Australian electricity futures and options for trading and clearing on the futures market operated by ASX. The d-cypha ASX electricity derivatives market now trades an average of 1.651 million MwH per day representing 232% of daily average system demand. The electricity options market trades an average of 387,000 MwH per day and is one of the largest electricity options markets in the world.
Having successfully developed the Australian electricity market together, the acquisition of d-cypha will enable ASX to combine the sales and product innovation strengths of d-cypha with ASX’s distribution and risk management capabilities. d-cypha will be renamed as ASX’s new ASX Energy subsidiary and will assist ASX in its objective to expand its position in the energy derivatives markets.
Deputy CEO, Peter Hiom said: “This acquisition will strengthen ASX’s position in the electricity futures and options markets and serves as a strong platform for ASX to accelerate new initiatives in other energy markets in Australia and New Zealand. ASX Energy will complement our established capabilities in commodity, equity and interest rate futures and options.”
ASX is financing the acquisition from existing cash reserves. The transaction is expected to be accretive in the first year.
Amanda J Harkness
Group General Counsel & Company Secretary
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For further inquiries, contact:
Media
Matthew Gibbs General Manager, Media and Communications Tel: +61 2 9227 0218 Mobile: 0411 121 219 [email protected] www.asxgroup.com.au/media-releases.htm
Finance/Investor Relations
Stephen Hammon General Manager, Finance Tel: +61 2 9227 0260 Mobile: 0488 212 755 [email protected] - www.asxgroup.com.au/investor relations.htm
Till Rosar General Manager, Strategy Tel: +61 2 9227 0523 Mobile: 0418 958 237 [email protected]