Transaction overview
The transaction involved the transfer of the holding entity’s remaining 7% equity stake in the index provider to SGX Treasury I Pte. Ltd. (“SGX-TI”), a wholly owned subsidiary of Singapore Exchange Ltd (“SGX”). The index provider, known globally for its cutting-edge smart beta index solutions and quantitative investment research, had been jointly developed through a strategic partnership over several years between SGX and the holding entity.

This final transfer followed the exercise of a call option by SGX-TI under a pre-existing Put and Call Option Agreement framework. In March 2025, the parties moved forward swiftly and collaboratively to complete the deal. The transaction was executed remotely and concluded on the basis of a consideration amount mutually agreed upon between the parties, with all corporate, regulatory, and contractual obligations duly discharged in accordance with applicable legal and procedural requirements.

Our role & support
Our team provided comprehensive transactional advisory support to the holding entity, guiding the client through all legal, strategic, and procedural aspects of the completion. This included ensuring compliance with the call option mechanism, coordinating the fulfilment of delivery obligations across multiple legacy agreements, and advising on the resolution of surviving post-completion rights and responsibilities.

Strategic outcome

  • The transaction represents a smooth and amicable exit for the entity from the index provider, bringing to a close a successful multi-year partnership marked by collaboration and long-term value creation. The divestment also signals the culmination of the entity’s investment strategy in the platform, while enabling SGX to fully integrate the index provider as a core part of its index and data services business.

We are delighted to have contributed to this seamless transition and to have supported two leading institutions in completing a strategically significant share acquisition. Our involvement underscores the firm’s capability to deliver high-quality legal and transactional support in equity investments, shareholder arrangements, and strategic exits. This transaction serves as a testament to the trust placed in our firm by sophisticated clients, such as this particular holding entity, and reflects our continued commitment to excellence in advising the investment and financial services sector. A hearty congratulations to the team!