London Stock Exchange Group PLC on Thursday said it has offloaded its 4.9% stake in Euroclear Holding SA/NV to Treasury Corp for €455 million, making a gain on its six-year investment.
TCorp is the financial services partner to the New South Wales government in Australia.
Euroclear is a Belgium-based financial services company that specialises in the clearing and settlement of securities transactions. It was founded in 1968 as part of JP Morgan & Co.
LSEG, the London-based exchange operator and data provider, owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and holds majority stakes in LCH and Tradeweb.
It had bought its stake in Euroclear for €278.5 million back in January 2019, hoping at the time to ‘strengthen LSEG and Euroclear’s existing operational and commercial relationship’.
LSEG was reported to be considering the sale of its Euroclear stake back in September. It didn’t on Thursday give a reason for the divestment.
JP Morgan Chase & Co and BNP Paribas SA acted as advisors to LSEG on the transaction.
Shares in LSEG were up 0.2% at 11,347.94 pence in London on Thursday morning.
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