LSE buying 15.1% of LCH to control over 80%

Friday, 19. October 2018 10:06

A group of minority shareholders of LCH Group Holdings Ltd. agreed to sell a total of 15.1% to London Stock Exchange Group Plc. The British marketplace operator said on Friday that its controlling stake would top 80%. The stake in the clearing organization will be paid up to €438 million (£384 million) in cash, according to the announcement.

The purchase will be funded from cash and existing credit and be accretive to profit after the transaction goes through, which LSE Group Plc expects to occur by the end of the year. Bank of America Merrill Lynch (Bank of America Corp.), Barclays Plc, JPMorgan Chase and Co., Morgan Stanley and Societe Generale SA are selling only parts of their holdings, while Borsa Istanbul AS, CFT & Viel & Cie, Commerzbank AG, Deutsche Bank AG, Nasdaq Inc. and Nomura Holdings Inc. are exiting ownership, the statement reveals. Fourteen minority stakeholders will remain.

Related Links: Deutsche Bank AGNASDAQ Inc.Société Générale S.A.London Stock Exchange Group plcCommerzbank AG
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