Silver Lake Announces Strategic Investment in Euroclear through Agreement with ICE to Acquire Intercontinental Exchange’s 9.85% Stake
18 October 2021 - 10:00PM
Business Wire
Silver Lake, a global leader in technology investing, and
Intercontinental Exchange (NYSE:ICE), a leading global provider of
data, technology, and market infrastructure, today announced an
agreement in which Silver Lake will make a long-term strategic
investment in Euroclear Holding SA/NV by acquiring ICE’s 9.85%
stake in the company’s share capital for EUR709 million.
Euroclear is a leading Brussels, Belgium-based provider of
post-trade security settlement, custody, collateral management,
fund management and data services with €35.2 trillion of assets
under custody and 284 million netted transactions settled in the 12
months ended June 2021. Euroclear is a vital European and global
financial market infrastructure company, connecting more than 2,000
financial institutions in 50 different markets and settling
transactions in 50 currencies.
Silver Lake’s acquisition of ICE’s stake in Euroclear is subject
to customary closing conditions and regulatory approval. Following
Silver Lake’s investment, Silver Lake will request that a
representative of Silver Lake join the Board of Euroclear Holding
SA/NV.
Christian Lucas, Co-Head of Silver Lake EMEA, said: “We are
thrilled to become a shareholder of Euroclear. We have been highly
impressed by the company’s achievements over the years,
continuously strengthening Euroclear’s positioning as a global
leader in vital post-trade, collateral management, fund management
and data services as well as the company’s crucial importance
overall to the efficient functioning of financial markets in Europe
and around the world. As a leading technology investor, we look
forward to contributing to Euroclear’s future growth, which is more
than ever driven by innovation.”
“We have great respect for Euroclear and its leadership team,
have seen the critical services and sustainable infrastructure it
provides to our industry, and it has been a successful investment
for ICE,” said Jeffrey C. Sprecher, ICE Chairman and Chief
Executive Officer. “Going forward, Euroclear will have an
outstanding long-term partner and shareholder in Silver Lake with
its deep knowledge and experience in financial and technology
investments.”
The transaction could close as soon as the first half of 2022.
Moelis & Company served as ICE’s financial advisor on this
transaction and Stibbe served as legal advisor. Lazard served as
Silver Lake’s financial advisor and Simpson Thacher & Bartlett
and Loyens & Loeff served as legal advisors.
About Silver Lake
Silver Lake is a leading global technology investment firm, with
more than $88 billion in combined assets under management and
committed capital and a team of professionals based in North
America, Europe, and Asia. Silver Lake’s portfolio companies
collectively generate more than $221 billion of revenue annually
and employ more than 526,000 people globally. For more information
about Silver Lake and its portfolio, please visit Silver Lake’s
website at silverlake.com.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate exchanges,
including the New York Stock Exchange, and clearing houses that
help people invest, raise capital and manage risk across multiple
asset classes. Our comprehensive fixed income data services and
execution capabilities provide information, analytics and platforms
that help our customers capitalize on opportunities and operate
more efficiently. At ICE Mortgage Technology, we are transforming
and digitizing the U.S. residential mortgage process, from consumer
engagement through loan registration. Together, we transform,
streamline and automate industries to connect our customers to
opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading “Key Information Documents
(KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as
filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20211018005486/en/
For Silver Lake: Matt
Benson, matthew.benson@silverlake.com, +1 (917) 328-3471 Jess Gill,
Edelman Smithfield, silverlakemedia@edelman.com, +44 (0)7980 684
247 For ICE: Media: Josh King,
josh.king@ice.com, +1 (212) 656-2490 Investors: Mary Caroline
O’Neal, marycaroline.oneal@ice.com, +1 (770) 738-2151
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