Salem Radio Network News Saturday, December 4, 2021

Business

Silver Lake to buy NYSE-owner ICE’s stake in Euroclear for 709 million euros

(Reuters) – U.S. buyout firm Silver Lake will acquire Intercontinental Exchange Inc’s stake in securities settlement platform Euroclear Holding for 709 million euros ($821.7 million), the companies said on Monday.

Euroclear, a Brussels-based provider of post-trade security settlement, custody, collateral management, fund management and data services, has 35.2 trillion euros of assets under custody.

New York Stock Exchange owner ICE had a 9.85% stake in Euroclear.

Following the investment, which is expected to close in the first half of next year, Silver Lake wants one of its representatives to join Euroclear’s board, the companies said.

Moelis & Co was ICE’s financial adviser, while Lazard advised Silver Lake on the deal.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)

Previous
Next

Editorial Cartoons

View More »

Bob Gorrell
Tue, Nov 23, 2021

X CLOSE