Spain gives green light to Swiss exchange SIX’s purchase of BME bourse

Latham & Watkins has advised Bolsas y Mercados Españoles (BME) on its public bid to be purchased by SIX Group, A.G., the parent company of the group that manages the Swiss market infrastructure and financial system


The Government of Spain authorized the bid by Swiss exchange SIX to buy the Madrid stock market operator BME. Spanish stock market regulator (CNMV) has also approved the proposed acquisition two days after the goverment´s blessing.

Six’s offer values BME at €2.8 billion, which was originally €34 per share. However, the national manager paid 60 cents per share last December, which must be deducted from the initial offer.

The public takeover bid launched by SIX Group was covered by IBL last November here.

The deal is being closely monitored by BME’s European rivals as its industry struggles with lower fees and revenues. France’s Euronext (ENX.PA), also expressed interest in buying BME but never submitted a formal bid.

Madrid Latham & Watkins team advising BME includes Ignacio Gómez-Sancha (pictured left), managing partner and head of Corporate and M&A department and Luis Lozano (pictured right), Corporate and M&A counsel.

Desire Vidal