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Investor doubles up on NASDAQ OMX shares

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Investor doubles up on NASDAQ OMX shares
16:23 CET+01:00
Swedish holding company Investor has agreed to double its stake in the NASDAQ OMX Group, the company announced on Thursday.

The Wallenberg family investment company has agreed to purchase 8 million NASDAQ OMX shares in a share forward transaction with Japan-based conglomerate Nomura.

The deal was struck at a forward purchase price of $21.80 per share for a total purchase price of $175 million.

Investor currently owns around 9 million shares in NASDAQ OMX Group, corresponding to a 4.6 percent ownership stake.

After the deal, Investor's stake in the stock exchange operator will roughly double to 9.7 percent of outstanding shares.

“We are excited about this opportunity to become a leading shareholder in NASDAQ OMX, a company with very strong market positions and a unique brand in an industry we know well,” Investor CEO Börje Ekholm said in a statement.

“We are convinced that this investment will be very attractive for our shareholders.”

In October, Investor reported its net assets had grown by 9 percent in 2010 to 152.4 billion kronor ($22.9 billion).

At the time, Ekholm indicated the firm was on the lookout for new investments saying, "We remain prepared to invest when we find the valuation attractive."

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