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Hengeler Mueller

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Berlin, Brussels, Dusseldorf, Frankfurt, London, Munich

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Hengeler Mueller advises Deutsche Börse on creation of new index and portfolio / risk analytics pro

April 2019

Deutsche Börse AG (Deutsche Börse) has entered into binding agreements on the acquisition of Axioma Inc. (Axioma), which is a leading provider of portfolio and risk management solutions. Axioma will be combined with Deutsche Börse's entire index business (STOXX and DAX) to create a new company.

As part of the transaction, Deutsche Börse has entered into a partnership with General Atlantic. The transaction is based on a valuation of 2.6 billion Euro for the index business of Deutsche Börse and an Axioma acquisition value of 850 million US-Dollar, which will be financed by an investment of General Atlantic. The transaction is subject to approval by the relevant competition authorities and further customary conditions and is expected to close in the third quarter 2019.

The combination will create a fully-integrated, leading buy-side intelligence player that will provide products and analytics to meet growing market demands.

Hengeler Mueller advises Deutsche Börse on the transaction. The team is led by partners Daniel Möritz and Hans-Jörg Ziegenhain (both M&A, Munich) and includes partners Christian Schwandtner (M&A, Düsseldorf), Markus Röhrig (Antitrust, Brussels), Christian Hoefs (Employment, Frankfurt), Dirk Uwer and Vera Jungkind (both Public Law, Düsseldorf), counsel Markus Ernst (Tax, Munich), Eckbert Müller (Employment, Frankfurt) and Benedikt Migdal (IP/IT, Düsseldorf) as well as associates Christian Lutz, Achim Spengler, Hanna Pfeifer, Florian Dendl, Daniel Blagojevic, Niels Christian Schwaiger, Jimena Janeiro Fong (all Munich), Jakub Lorys (Frankfurt), Tobias Schneiders (Düsseldorf) (all M&A), Anja Balitzki (Antitrust), Alla Drößler and Deniz Tschammler (both Public Law) (all Düsseldorf).

Hengeler Mueller works on this transaction in an integrated team together with the New York law firm Cravath Swaine & Moore LLP (partners Mark I. Greene und Aaron M. Gruber).

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    Hengeler Mueller, together with Simpson Thacher & Bartlett in London and New York, Davies Ward Phillips & Vineberg LLP in Toronto and various other European local counsel, advises funds managed by The Blackstone Group LP on the acquisition of Dream Global REIT ("Dream Global"). The Canadian real estate investment trust listed in Toronto and Frankfurt holds a pan-European real estate portfolio with the majority of the properties located in Germany. The all-cash transaction is valued at CAD 6.2 bn (appr. EUR 4.2 bn) and is subject to customary conditions. It is expected to close in December 2019.
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