TSX Group acquires Natural Gas Exchange from OMHEX
TSX Group acquires Natural Gas Exchange from OMHEX OMHEX and TSX Group have reached an agreement under which a wholly-owned subsidiary of TSX Group will purchase 100% of NGX (Natural Gas Exchange) Canada Inc. for approximately CAD 38 m (SEK 211.3 m). NGX is a Canadian exchange that trades and clears natural gas and electricity contracts. The transaction is expected to close in the first quarter of 2004 and is subject to regulatory approvals and other customary conditions of closing. In addition, the agreement between OMHEX and TSX contains a five-year license for CLICK XT and the parties will look for areas to work together on future business development. The sale of NGX is expected to have a positive revenue effect on OMHEX of about SEK 105 m, which will be accounted for in the first quarter of 2004. For the year ended December 31, 2003, NGX had revenues of CAD 13.9 m (SEK 77.3 m) and net income of CAD 3.4 m (SEK 18.9 m), and had, at December 31, 2003, total assets of CAD 15.3 m (SEK 85.1 m), and a net book value of CAD 13.4 m (SEK 74.5 m). We are continuing to implement our streamlining program under which we are increasing focus on the financial markets, said Magnus Böcker, President and Chief Executive Officer of OMHEX. We are very pleased that NGX will find a new home in the TSX group of companies, the operator of Canada's two national stock exchanges, and we look forward to evaluating the possibilities of further cooperation with TSX. This transaction advances our strategy to extend and diversify TSX’s pre-eminent position in Canada while looking for opportunities to grow in the United States, said Barbara Stymiest, TSX Group’s Chief Executive Officer. The addition of NGX significantly extends our product and service offering, while at the same time expanding our reach outside of Canada. We are delighted to be joining the TSX family, said Peter Krenkel, Chief Executive Officer of NGX. TSX’s market position and expertise will strongly support the expansion and development of our business. About OMHEX OMHEX owns and operates the largest securities market in Northern Europe and is a leading provider of marketplace services and solutions for the financial and energy markets. OMHEX consists of two divisions: OM Technology - a world-leading provider of solutions and services (outsourcing and transaction processing) based on pioneering and proven technology and HEX Integrated Markets - the integrated Nordic and Baltic marketplace for securities, giving customers access to 80 percent of the Nordic and Baltic securities market. For more information, visit www.omhex.com About TSX Group Inc. (TSX-X) TSX are the initials attached to the core operations of the TSX Group: Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TXS Data Linx and TSX Technologies. TSX Group operates Canada's two national stock exchanges serving the senior equity market and public venture equity market. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver. For more information or comments, please contact: Anna Rasin, VP Marketing & Communications +46 8 405 66 12
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