Chinese-led investor group is buying the Chicago Stock Exchange, also
known as CHX, to eventually list Chinese companies on it, and also may
use CHX’s technology and model to start an equities exchange where it is
based in China, according to the CEO and chairman of the 134-year-old
John Kerin also told Reuters that under the new ownership, the
exchange would have the funding for efforts like revamping its listings
program."They like our strategy, and they want us to continue to execute
on it," he said in an interview.
John Kerin 对路透社说
The investor consortium led by Chongqing-based Casin Enterprise Group
said on Feb 5 it will acquire the exchange, which handles about 0.5
percent of the average daily trading volume in the US.
It would be the first purchase of a US exchange by investors from
China, but not to a foreign entity. A unit of Germany’s Deutsche Boerse
AG acquired the International Securities Exchange in 2007.
Bloomberg reported that the deal values the exchange at less than $100
million, accordingto a person familiar with the matter, who asked to not
be identified because the terms were not disclosed publicly.
The exchange said the deal is expected to close in the second half of
the year, and willrequire the approval of the US Securities and Exchange
The acquisition also might be reviewed by the Committee on Foreign
Investment in the United States (CFIUS), which has jurisdiction to
examine an acquisition of a US business that will result in foreign
control. CFIUS is only interested when the transaction raises national
security or critical infrastructure concerns.
"It is possible that CFIUS could be interested in this transaction
because financial services can be considered part of the critical
infrastructure of the US," Laura Fraedrich of Jones Day in Washington
told China Daily.