Euronext ready for deals as it looks to new markets

Stock markets operator Euronext said on Thursday it was open to transformational deals in a bid to boost its dominance in the European capital markets union, Reuters reported.

Among bolt-on acquisitions, Euronext said it was interested in investing in post trade services, new asset classes in commodities and advanced data services, such as new ESG-based indices. 

Euronext is to be the supplier of the operating platform for the new Scottish Stock Exchange currently being set up by Project Heather in Edinburgh’s George Street.

Earlier this year, Euronext bought Norwegian stock exchange Oslo Bors for 700 million euros ($770 million).

Euronext unveiled a new set of financial targets for 2019-2022, saying it aimed to grow sales by 2% to 3% a year over the period. 

Euronext, which operates stock exchanges in Amsterdam, Brussels, Dublin, Lisbon and Paris, also said it aims to reach an organic EBITDA margin above 60% in 2022 which would compare with a pro-forma EBITDA margin of 57% in 2018. 

It said it had several hundreds of millions of euros available for acquisitions and could possibly tap equity markets to bring its potential budget up to more than 2 billion euros for a business that would “transform its revenue model.”