LSE Group Agrees to Sell Borsa Italiana to Euronext for $5.09 Billion
October 09 2020 - 2:50AM
Dow Jones News
By Adria Calatayud
London Stock Exchange Group PLC said Friday that it has agreed
to sell its entire shareholding in the parent company of Borsa
Italiana to Euronext NV for an equity value of 4.33 billion euros
($5.09 billion).
The London stock-exchange operator said it will also receive an
additional amount reflecting cash generation to completion.
The deal is conditional upon, among other things, the divestment
of Borsa Italiana or any material part of the business being a
condition of any European Commission clearance decision for LSE
Group's own acquisition of Refinitiv, the company said.
LSE Group in July said it was in exploratory talks to sell its
interest in Italian fixed-income trading market MTS SpA--or
potentially the Borsa Italiana as a whole--in order to satisfy the
European Commission regarding its own deal to acquire data provider
Refinitiv.
Euronext said the acquisition of Borsa Italiana will result in
the creation of the leading player in European capital-markets
infrastructure.
Completion of the deal is expected in the first half of 2021,
Euronext said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 09, 2020 02:35 ET (06:35 GMT)
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