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Mercuria Services S.A. merge to form MDO Services S.A.

Posted: 29 July 2008

The Boards of Mercuria Services S.A. and The Directors' Office S.A. have announced the merger of their companies to create a single entity called 'MDO Services S.A'. The shares of the new company will represent a 50:50 allocation between Mercuria Services S.A. and The Directors' Office S.A.'s existing shareholders.

Under the terms of the merger, which is due to be completed in the fourth quarter of this year, Mercuria Services S.A. will merge into The Directors' Office S.A. to form MDO Services S.A. and Mercuria Management Company S.A. will merge into TDO Management Company S.A. to form MDO Management Company S.A. Existing contractual relationships with clients will remain unchanged.

The risk management partnership with Independent Risk Monitoring Ltd. through Mercuria Independent Risk Solutions S.A. will be further developed. MDO Services S.A. will operate from larger offices close to the airport in Luxembourg-Hamm. The new company will have a highly qualified multilingual staff drawn from 10 different nationalities including qualified financial analysts who will support 13 independent Directors in the execution of their duties.

The merger is the result of a strategic decision by the Boards of Mercuria Services S.A. and The Directors' Office S.A to create a single important player providing seamless services in fund governance, substance, compliance, supervision of delegations, risk management as well as third party management company services.

The Board of Directors of MDO Services S.A. will be drawn equally from the Boards of Mercuria Services S.A. and The Directors' Office S.A., and will be made up of Marie-Jeanne Chèvremont (Chairman), Nicolaus Bocklandt, Géry Daeninck, Claude Kremer, Yves Wagner, and Patrick Zurstrassen. Patrick Zurstrassen will be President of the Management Committee which will be composed of Managers from both companies.

Commenting on the merger, Marie-Jeanne Chèvremont, designated Chairman of MDO Services S.A., said, "This merger will deliver substantial benefits for customers and employees as it brings together two highly successful teams with proven records of innovation and a shared strategic commitment to achieve growth. We will be in a strong position to offer a wider range of and indeed new services to the Luxembourg financial market place."

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