Euronext offers €510m for LSEG’s LCH.Clearnet SA
03 January 2017 Paris
Image: Shutterstock
Euronext has placed an "irrevocable all-cash offer" for the London Stock Exchange Group’s (LSEG) majority stake in LCH.Clearnet SA, the French arm of LCH.Clearnet Group, according to LSEG.
LSEG and and Euronext agreed a put option and a cash consideration of €510 million, on the condition that the ongoing merger between LSEG and Deutsche Börse is completed.
The sale of LCH.Clearnet SA was recommended by European Commission in order to address anti-trust concerns in relation to certain businesses and would be subject to review and approval by the commission.
The offer comes after Euronext first expressed an interest in the subsidiary in December.
LSEG and and Euronext agreed a put option and a cash consideration of €510 million, on the condition that the ongoing merger between LSEG and Deutsche Börse is completed.
The sale of LCH.Clearnet SA was recommended by European Commission in order to address anti-trust concerns in relation to certain businesses and would be subject to review and approval by the commission.
The offer comes after Euronext first expressed an interest in the subsidiary in December.
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