London Stock Exchange Group to Divest BETA+ for $1.1 Billion; Anticipates Share Buyback
March 21 2022 - 8:15AM
Dow Jones News
By Kyle Morris
London Stock Exchange Group PLC said Monday that it has agreed
to divest BETA+ to Clearlake Capital Group LP and Motive Partners
for $1.10 billion and that it anticipates returning a significant
proportion of the proceeds to shareholders through a buyback.
The stock-exchange and financial-information company said that
the transaction for BETA+, which comprises BETA, Maxit and Digital
Investor, is expected to complete in the second half of 2022.
A significant portion of the net proceeds are expected to be
returned to shareholders through a buyback, it said, adding that it
will continue to support organic and inorganic growth
opportunities. Further detail will be announced in due course with
any buyback likely to begin in the third quarter, it said.
London Stock Exchange also said that it has entered a new
long-term strategic partnership for data, content and tools with
BETA+ and portfolio companies owned by Motive and Clearlake.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
March 21, 2022 08:00 ET (12:00 GMT)
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