Simpson Thacher is representing J.C. Flowers & Co. LLC in the sale of Chi-X Asia Pacific Holdings, Ltd. to Cboe Global Markets, Inc. (NASDAQ: CBOE). The transaction is expected to close in the second or third quarter of 2021. Financial terms of the transaction were not disclosed.
Chi-X Asia Pacific owns Chi-X Japan Ltd., a proprietary trading system based in Tokyo which operates four alternative equity trading venues, and Chi-X Australia Ltd., the second largest regulated exchange in Australia which is based in Sydney, offering trading in equities, and listings and trading in equity warrants, exchange-traded funds and listed mutual funds, among other products.
Cboe Global Markets provides cutting-edge trading and investment solutions to market participants around the world. The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S., Canadian and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and volatility products.
The Simpson Thacher team for this transaction includes Ravi Purushotham, David Sneider, Jonathan Stradling and Mai Kristofferson (M&A); Lori Lesser and Amber Harezlak (Intellectual Property); and Drew Purcell, Dmitry Zelik and Suzy Yaster (Tax).