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Euronext to sell 11.1% stake in LCH SA to LCH Group
Global Banking & Finance Review®
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PARIS (Reuters) -European stock market operator Euronext said on Monday it had agreed to sell its 11.1% stake in the European operations of clearing company LCH SA to LCH Group Holdings, for 111 million euros ($121.1 million).
PARIS (Reuters) -European stock market operator Euronext said on Monday it had agreed to sell its 11.1% stake in the European operations of clearing company LCH SA to LCH Group Holdings, for 111 million euros ($121.1 million).
The Amsterdam and Paris-based platform said in a statement that the transaction will lead to a 40 million euro tax-exempt non-underlying capital gain in the company’s third-quarter results.
Euronext entered LCH SA’s capital in 2017, exchanging a 2.3% stake in LCH Group for an 11.1% share in LCH SA.
“The price has been defined by an independent expert, in accordance with the pre-agreed terms for the buy back”, Euronext added.
($1 = 0.9168 euros)
(Reporting by Sudip Kar-Gupta and Victor Goury-Laffont; Editing by Kim Coghill and Louise Heavens)
A capital gain is the profit earned from the sale of an asset, such as stocks or real estate, when the selling price exceeds the purchase price.
A stake in a company refers to the ownership interest or share that an individual or entity holds in that company, often represented as a percentage.
A financial market is a marketplace where buyers and sellers engage in trading financial assets like stocks, bonds, currencies, and derivatives.
Investment management is the professional management of various securities and assets to meet specified investment goals for the benefit of investors.
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