Silver Lake to buy NYSE-owner ICE’s stake in Euroclear for 709
© Reuters. FILE PHOTO: A screen displays the ticker symbol and logo for Intercontinental Exchange Inc. (ICE) on the floor of the New York Stock Exchange (NYSE) March 1, 2016. REUTERS/Brendan McDermid
(Reuters) – U.S. buyout firm Silver Lake will acquire Intercontinental Exchange (NYSE:) Inc’s stake in securities settlement platform Euroclear Holding for 709 million euros ($821.7 million), the companies said on Monday.
Euroclear, a Brussels-based provider of post-trade security settlement, custody, collateral management, fund management and data services, has 35.2 trillion euros of assets under custody.
New York Stock Exchange owner ICE had a 9.85% stake in Euroclear.
Following the investment, which is expected to close in the first half of next year, Silver Lake wants one of its representatives to join Euroclear’s board, the companies said.
Moelis (NYSE:) & Co was ICE’s financial adviser, while Lazard (NYSE:) advised Silver Lake on the deal.
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Read More: Silver Lake to buy NYSE-owner ICE’s stake in Euroclear for 709