Nymex plans to sell 10% stake to private equity firm
The New York Mercantile Exchange (Nymex) has signalled its intention to sell a 10% equity stake to General Atlantic, a US-based private equity firm, for $135 million.
The proceeds would go to Nymex’s 816 seatholders. The Nymex board will recommend the offer to its shareholders and members at a September 29 meeting.
“General Atlantic has a proven record of building value in the exchange sector,” said Nymex chairman Mitchell Steinhause. “We believe this transaction provides Nymex with the right balance of continued autonomy, open-outcry trading protection
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