By Donato Paolo Mancini

Deutsche Boerse AG (DB1.XE) has agreed to acquire Axioma Inc., which will be combined with the company's entire index business to create a new company, it said Tuesday.

As part of the move, Deutsche Boerse has entered into a partnership with General Atlantic LLC, which will invest $715 million into the resulting company, with a resulting stake of 19%.

This, Deutsche Boerse said, is based on a valuation of 2.6 billion euros ($2.92 billion) for the index business and an Axioma valuation of $850 million.

The transaction will be cash-neutral for Deutsche Boerse.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

(END) Dow Jones Newswires

April 09, 2019 13:02 ET (17:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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