Deutsche Börse AG's former CEO Carsten Kengeter will have to pay a fine of almost €5 million to settle the insider trading allegations against him, Handelsblatt reported Dec. 28.

Kengeter resigned in October 2017 after an investigation was launched looking into his purchase of €4.5 million in Deutsche Börse shares in December 2015, just weeks before the German exchange group began merger talks with London Stock Exchange Group PLC.

The District Court in Frankfurt has closed the investigation on condition that Kengeter pays €250,000 in addition to €4.5 million to cover his original investment.

Earlier in December, the court also fined Deutsche Börse €10.5 million in relation to the probe into Kengeter and a separate investigation into the company itself.