LSE grabs LCH.Clearnet deal for 463 mln

540 views
1 min read

The London Stock Exchange is to buy a majority stake in LCH.Clearnet in a deal valuing the clearing house at 813 million euros ($1.1 billion), the two firms said on Friday.

The LSE will hold up to 60% of LCH.Clearnet. It will pay 20 euros for each LCH.Clearnet share bought.

The maximum price paid by the LSE will be 463 million euros, which it said will be funded from existing resources and bank facilities.

The LSE entered exclusive talks to buy LCH.Clearnet in September.