Deutsche Börse will acquire a majority share of approximately 80% in ISS, valuing ISS at USD 2,275 million (EUR 1,925 million) for 100% of the business (cash and debt free).
Genstar Capital and current management will continue to hold a stake of approximately 20%.
The transaction is expected to close in the first half of 2021 subject to customary closing conditions and regulatory approvals.
ISS’ more than 4,000 clients include many of the world’s leading institutional investors.
This transaction will bring a strengthened capital structure to ISS and the ability to further accelerate organic and inorganic growth initiatives.
After the closing, ISS will continue to operate with the same editorial independence in its data and research organisation that is in place today.
The current executive leadership team with CEO Gary Retelny will co-invest in the transaction and will also lead the business of ISS after the closing.