New York Mercantile Exchange (Nymex) announced on 25 January
that its board of directors was pushing forward with its
partnership deal with General Atlantic (GA), ending speculation
about a possible partnership with Chicago Mercantile Exchange
After a board meeting on 25 January, Nymex issued a
statement saying that it planned to sell a 10% equity stake to
GA, although details were not disclosed.
Speculation in the market suggested that GA would pay more
for the minority stake than the $135m offered previously (see
FO Week Vol 10 No 37). Since then, Nymex seat prices
have risen dramatically, with the latest seat selling for
$3.77m on 21 December.
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