TortoiseEcofin Announces Constituent Change Due to Merger and Acquisition Activity
TortoiseEcofin announced that GreenSky, Inc. (NASDAQ: GSKY) will be removed from the Ecofin Global Digital Payments Infrastructure Index due to its merger with The Goldman Sachs Group, Inc. (NASDAQ: GS). This change will take effect on December 15, 2021, at market open. The Ecofin Index represents global digital payments companies engaged in electronic transactions and related Fintech services. The removal of GSKY from the index reflects its strategic transition post-merger.
- None.
- Removal from the Ecofin Global Digital Payments Infrastructure Index may indicate a decrease in market visibility for GSKY.
- Potential loss of investor confidence due to the merger impacting GSKY's previous position in the index.
About TortoiseEcofin
TortoiseEcofin focuses on essential assets – those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior housing. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. To learn more, visit www.TortoiseEcofin.com.
The Ecofin Global Digital Payments Infrastructure IndexSM represents the existing global digital payments landscape. It is a proprietary, rules-based, modified market capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in digital payments, including merchant processing and settlement, real time record keeping, settlement networks, and Fintech products/ services that facilitate the ease, efficiency, and speed of electronic transactions. This includes companies whose primary business is comprised of one or a combination of the following categories: credit card networks, electronic transaction processing and associated products/services, credit card issuers, electronic transaction processing software (payments Fintech) or online financial services market places.
This index mentioned above is the exclusive property of
This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
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Source: TortoiseEcofin
FAQ
When will GreenSky be removed from the Ecofin Global Digital Payments Infrastructure Index?
What is the reason for GreenSky's removal from the Ecofin index?
How does the merger with Goldman Sachs affect GreenSky's stock?
What is the Ecofin Global Digital Payments Infrastructure Index?
