Advent International Sells Remaining Cetip Stake to ICE
Private equity firm Advent International agreed to sell its remaining stake in Brazilian clearing house Cetip SA to Intercontinentalexchange, for about $512 million, 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 will make ICE will be the largest shareholder in Cetip.
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