Deals
LSE Paves Deal Path With $533 Million Unit Sale to Euronext
- Deal values unit at about 90 million euros below 2003 sale
- Divestment is an attempt to assuage European merger watchdogs
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London Stock Exchange Group Plc agreed to sell its French clearing unit to Euronext NV for 510 million euros ($533 million) in cash, putting it on course to end a 13-year combination that the company hopes will pacify competition watchdogs.
LCH.Clearnet SA’s sale requires Euronext shareholder and other approvals, according to a statement from Euronext Tuesday. The deal may be completed by the end of the second quarter.