Miami International Holdings, Inc. announced that its acquisition of The International Stock Exchange Group Limited via it wholly-owned subsidiary, MIH East Holdings, Limited, has become effective by means of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law of Guernsey.
The cash consideration of £22.50 per TISE ordinary share values TISE at approximately £70.4 million ($91.5 million¹).
“MIH’s acquisition of TISE represents a key milestone in advancing our international growth strategy,” said Thomas P. Gallagher, Chairman and CEO of MIH. “I would like to extend my deepest gratitude to the TISE Board of Directors for their support throughout the process. I am especially grateful to Anderson Whamond for his steadfast guidance and diligence in completing the transaction and I look forward to working with him through the transition process.”
Headquartered in Guernsey, Channel Islands, TISE provides financial markets and securities services to public and private companies. Best known as one of Europe’s major professional bond markets, TISE’s Qualified Investor Bond Market (QIBM) is a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions.
TISE lists a pool of investment funds, UK Real Estate Investment Trusts (REITs) and hosts a sustainable finance segment, TISE Sustainable. TISE reported over 4,400 securities on its Official List with a total market value of more than £750 billion ($975 billion¹) at the end of 2024.
“The acquisition of TISE by MIH signifies the growth of our business and we look forward to collaborating with the MIH team to further strengthen TISE’s credentials as a leading European listing venue,” said Cees Vermaas, CEO of TISE. “With MIH’s endorsement of our strategy, people and position in the European market, we are well placed to accelerate our growth ambitions, broaden our service offering and deliver greater value to our stakeholders.”
Mr. Gallagher added: “We are excited to establish a presence in Guernsey and believe that TISE’s strong reputation and solid business foundation provide MIH with significant opportunity to enhance our offerings and expand our international footprint through investments in TISE’s technology, business development and operational processes.”
Reed Smith LLP served as English legal advisor to MIH and Mourant Ozannes (Guernsey) LLP served as Guernsey legal advisor to MIH. Ashurst LLP served as English legal advisor to TISE and Walkers (Guernsey) LLP served as Guernsey legal advisor to TISE. Zeus Capital Limited served as financial advisor to MIH and Investec Bank plc served as financial advisor to TISE.
Source: MIH
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