Euronext to switch LCH stake for French unit position
August 09, 2017
Financial Services | Paris, France | Secondary Transaction
Euronext has agreed to swap its 2.3% stake in clearing house LCH for an 11.1% position in the company's French unit. The move comes as part of an agreement renewal between the Europe-wide exchange and the subsidiary, which will see derivatives and commodities clearing services provided for the next 10 years. In January, Euronext launched a €510 million offer to acquire LCH, before the deal was cancelled in March.