Accountancy

Deutsche Boerse to buy 80% stake in proxy adviser ISS

Current owner Genstar Capital is the second private equity firm to reap a handsome profit on ISS in recent years

Deutsche Boerse on 18 November said it agreed to buy a roughly 80% stake in Institutional Shareholder Services in a deal that values the proxy-advisory firm at $2.275bn.

The German stock-exchange operator said private-equity firm Genstar Capital and current ISS management will retain a stake of about 20% in the Rockville, Maryland-based company.

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