Market operator the CEE Stock Exchange Group (CEESEG) has sold the Ljubljana Stock Exchange to Croatia’s Zagreb Stock Exchange.
Zagreb will take complete ownership of Ljubljana following negotiations which began last month.
As part of the deal, the Vienna Stock Exchange, by far the largest component of CEESEG, signed a partnership with Zagreb focused on sharing their trading technology.
Once the deal completes, expect to follow receipt of regulatory approval in Q4 2015, Vienna will provide Zagreb with its trading system, interfaces, software and expertise.
In a statement, Michael Buhl and Petr Koblic, management board members of CEESEG, said: “Shared technology and uniform standards will benefit both regional and large international clients.
“Expanding our existing data vending cooperation with the Zagreb Stock Exchange will further strengthen our position as infrastructure provider in CEE & SEE. We both have a deep understanding and appreciation of the region and share a common vision for its development.”
Ivana Gažić, president of the management board of Zagreb Stock Exchange, added: "The Zagreb and the Ljubljana Stock Exchange share a similar development path and financial system framework, with Slovenia's capital market being very similar to that of Croatia in terms of its development, structure and potential. Investors in these two markets often consider them as one, and Croatian investors hold considerable participations in Slovenian companies.”
Financial details of the transaction were not disclosed.