Intercontinental Exchange to Sell Euroclear Stake to Silver Lake
18 October 2021 - 11:11PM
Dow Jones News
By Colin Kellaher
Intercontinental Exchange Inc. on Monday said it agreed to sell
its 9.85% stake in Euroclear Holding SA/NV to private-equity firm
Silver Lake for 709 million euros ($822 million).
Brussels-based Euroclear provides post-trade security
settlement, custody, collateral management, fund management and
data services.
Intercontinental Exchange, the Atlanta-based owner of the New
York Stock Exchange, acquired a 4.7% stake in Euroclear in late
2017 from Royal Bank of Scotland for EUR275 million and raised its
stake to nearly 10% in early 2018.
Technology investment firm Silver Lake said it plans to request
a seat on the board of Euroclear, which is majority-owned by a
consortium of its users, mainly banks.
Intercontinental Exchange said it expects to complete the
transaction as soon as the first half of 2022.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 18, 2021 07:56 ET (11:56 GMT)
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