Harmos Horton Lusk is advising NZX, the operator of the New Zealand Stock Exchange, on its participation in the proposed GlobalDairyTrade strategic partnership. The transaction involves NZX co-investing in GDT alongside the European Energy Exchange and Fonterra, with each partner to hold a one-third shareholding. Completion is expected to occur in mid-2022, subject to finalisation of transaction documents, board approvals and clearances from any relevant competition law authorities.
GDT is the leading global physical trading platform for dairy commodities. It is pivotal to the creation of the reference prices for dairy commodities that underpin NZX’s dairy derivatives business (which is operated in a strategic partnership with SGX).
The Harmos Horton Lusk team advising NZX on the GDT transaction is led by director Nathanael Starrenburg.