LSE agrees clearing house sale for Deutsche Boerse merger
LCH is majority owned by London Stock Exchange Group (LSEG), a diversified international exchange group that sits at the heart of the world's financial community. Image Source: AFP
The London Stock Exchange (LSE) said on Tuesday it has agreed to offload the French arm of clearing house LCH to European rival Euronext as it seeks a merger with Deutsche Boerse.
LSE said a cash deal worth 510 million euros ($534 million) had been struck with Euronext, adding in a statement that the proposed sale "would be subject to review and approval by the European Commission in connection with the recommended merger of London Stock Exchange Group (LSEG) and Deutsche Boerse".
LCH is majority owned by London Stock Exchange Group (LSEG), a diversified international exchange group that sits at the heart of the world's financial community, according to the company website.
LCH is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.