BÖAG Börsen AG Acquires Majority Stake in ICF BANK AG with Heuking
May, 2020 - Germany
A team led by Dr. Jörg Schewe and Dr. Michael Dröge, both Partners at Heuking’s Hamburg office, legally advised BÖAG Börsen AG on the acquisition of a majority stake in ICF BANK AG from the bank’s founders. As part of the transaction, BÖAG Börsen AG, which is operating the stock exchanges in Düsseldorf, Hamburg and Hanover, also secured an option to acquire additional stock in ICF BANK AG. With the acquisition of the majority stake, BÖAG Börsen AG strengthens its position and sets the course for continued joint innovative growth. The transaction is subject to the approval of corporate bodies and the relevant supervisory authorities.
The strategic partnership between BÖAG Börsen AG and ICF BANK AG is based on many years of successful collaboration. Since 2017, ICF BANK AG has been acting as market maker for Quotrix, Düsseldorf Stock Exchange’s electronic trading system. Since the beginning of 2020, it has been acting as a lead broker for trading in shares, bonds, investment funds, and ETPs on Düsseldorf Stock Exchange. The positioning in the “Capital Markets” and “Brokerage Services” segments opens up additional sources of growth and income in addition to the original securities trading.
BÖAG Börsen AG is operating the broker-supported stock exchanges in Düsseldorf, Hamburg, and Hanover, and the electronic trading platforms Quotrix and LS Exchange. The three stock exchanges, including their trading platforms, feature more than 50,000 listings of securities (shares, open-ended funds/ETFs, bonds, participation certificates, and certificates/ETCs). Trading participants include domestic credit institutions and financial services companies.
Frankfurt-based ICF BANK AG is a securities trading bank with some 65 employees. With its IT subsidiaries ICF SYSTEMS AG and Novis Software GmbH, it is one of the leading service and solution providers for all aspects of securities trading in Germany.
Counsel to BÖAG Börsen AG
Heuking Kühn Lüer Wojtek:
Dr. Michael Dröge,
Dr. Jörg Schewe (both M&A/Corporate), both Lead
Julia Cramer (Capital Markets)
Sven Johannsen (Capital Markets, Banking Supervision), all Hamburg
