Tuesday January 3 2017
News Source: Global Exchanges
Focus: Other
Type: General
Country: International
Link: https://www.euronext.com/en/news/euronext-makes-irrevocable-cash-offer-acquire-lchclearnet-sa
On 3rd January 2017, Euronext announced that it has signed a binding offer and been granted exclusivity to acquire 100% of the share capital and voting rights of LCH.Clearnet SA (“Clearnet”). Clearnet is a leading, multi-asset, Eurozone-based Central Counterparty (CCP) serving Euronext’s markets, pan-European electronic trading platforms and OTC markets, with gross income of €137m and profit after tax of €36m in 2015, and shareholders’ equity of €301m. Together, Euronext and Clearnet will deliver a multi-asset CCP based in the Eurozone.
As the transaction is contingent on, among other things, completion of the Deutsche Bank / London Stock Exchange Group merger, which remains under review by the European Commission and other authorities, Euronext continues to explore options for derivatives clearing after the expiry of the cash equities and derivatives clearing agreements with Clearnet in December 2018.
Click on the link above for further details.