ICE Buys Out Gasunie from ICE Endex

US Intercontinental Exchange has completed its acquisition of ICE Endex following the purchase of the remaining 20% stake from Dutch transporter Gasunie, ICE said July 5. The transaction terms were not disclosed and are immaterial to financial results, it said.

Dutch state-owned Gasunie developed the Title Transfer Facility (TTF), one of the earliest hubs on the continent and the fastest to develop, owing to its adoption of market principles.

ICE and Gasunie have also signed a memorandum of understanding that sets out the basis for further co-operation between the two parties in relation to the operation of the Dutch gas and power markets, ICE said.

"Our acquisition of the remaining shares in ICE Endex along with further co-operation with Gasunie will allow us to further develop these markets and to serve the needs of our European gas and power customers,” said ICE Futures Europe president and chief operating officer David Peniket. 

Gasunie said that it decided three years ago to join forces with ICE for a period of time to "develop a highly liquid, secure and efficient continental European platform for trading gas and power. By bringing the expertise of both companies together we have been able to deliver this initiative. Trade is now flourishing and the 100% ownership by ICE is the most logical step for the ICE Endex business.”

William Powell