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Advent Sells Remaining Cetip Stake to ICE

(Corrects story from July 14 to clarify ICE paid total amount to Advent and other shareholders in second paragraph.)

July 14 (Bloomberg) -- Private equity firm Advent International agreed to sell its remaining stake in Brazilian clearing house Cetip SA to Intercontinentalexchange, according to an e-mailed statement.

ICE will buy 12.4 percent of Cetip’s shares from Advent and other shareholders, or 31.6 million common shares at 25.50 reais a share. The deal totals about $512 million.

The acquisition will make ICE will be the largest shareholder in Cetip.

To contact the editor responsible for this story: Robin Stringer at rstringer@bloomberg.net

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