CME buys Dow Jones indices

CME Group will buy 90 per cent of Dow Jones’ namesake indexes business in a debt-funded joint venture that values the business at $675m (£432.8m), the two companies said yesterday. Dow Jones will retain a 10 per cent stake in the venture, which will raise some $613m in third-party debt. Dow Jones will get $607.5m of the proceeds. The Dow name will remain to preserve the familiar Dow Jones Industrial average name, under terms of the deal.