By Pierre Bertrand

Deutsche Boerse said it plans to buy the outstanding shares of digitized fund distribution platform FundsDLT that it doesn't already own.

The German exchange operator said Thursday that the acquisition of the remaining shares is expected to be completed by either the fourth quarter of 2023 or in the first quarter of 2024.

Deutsche Boerse said that it is a significant minority shareholder in the company. It said it had joined, through its post-trade infrastructure provider Clearstream, with the Luxembourg Stock Exchange, Credit Suisse Asset Management and Natixis Investment Managers to invest in the company back in March 2020.

Deutsche Boerse didn't disclose any financial details of the transaction. The shares will be bought by its venture capital arm DB1 Ventures, the company said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

August 03, 2023 06:36 ET (10:36 GMT)

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