Singapore Exchange snaps up Scientific Beta

"(...) Singapore Exchange (SGX) is to acquire a 93% stake in smart beta index provider Scientific Beta, it was announced today. The acquisition, which is to cost SGX €186m in cash, subject to clo ...

"(...) Singapore Exchange (SGX) is to acquire a 93% stake in smart beta index provider Scientific Beta, it was announced today. The acquisition, which is to cost SGX €186m in cash, subject to closing adjustments, will boost the exchange’s data, connectivity and indices business, it said in a statement. Also headquartered in Singapore, Scientific Beta was established by an affiliate of EDHEC Business School in 2013 to provide asset owners and asset managers with factor indices and strategies. The Singapore Holding of the EDHEC endowment fund – established by the EDHEC Business School and its alumni – will retain a 7% stake in Scientific Beta and a seat on the index provider’s board, remaining “a strategic partner of SGX in growing the company after the transaction,” according to the statement. (...)"

Type: Press article
Date: le 23/01/2020
Research Cluster : Finance
Source : IPE

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