UK's FTSE, Canada's TMX to combine fixed income index operations

Wed Feb 27, 2013 8:24am EST

Feb 27 (Reuters) - FTSE Group, part of London Stock Exchange Group, and Canada's TMX Group Ltd said they would combine their fixed income index businesses to form a joint venture.

FTSE will be the majority stakeholder in the joint venture owning a 75 percent stake in the entity.

TMX Group will receive C$112.2 million ($109.1 million), under the terms of the deal. The transaction is expected to slightly hurt TMX Group's earnings per share in 2013, the companies said in a statement.