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ICE Announces Update on Divestment of Euroclear Stake
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Rhea-AI Summary
Intercontinental Exchange (NYSE:ICE) has finalized its divestment of a 9.85% stake in Euroclear, a leader in post-trade services. The stake, valued at EUR709 million, has been sold in two parts: 5.42% to Caisse des Dépôts et Consignations (CDC) and 4.43% to Société Fédérale de Participations et d'Investissement SA (SFPI-FPIM). The transaction has successfully met all regulatory approvals.
Positive
Successful divestment of 9.85% stake in Euroclear for EUR709 million.
Stake sold to reputable government-backed entities: CDC and SFPI-FPIM.
All regulatory approvals obtained for the transaction.
Negative
None.
ATLANTA & LONDON--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced an update on the divestment of its 9.85% stake in Euroclear, the Brussels-based provider of post-trade security settlement, custody, and collateral management.
In October 2021, ICE announced that it planned to divest its stake in Euroclear for EUR709 million. During the approvals process, an alternative group of buyers of ICE’s shares came forward. ICE has now reached an agreement with Euroclear to sell 5.42% of its stake to Caisse des Dépôts et Consignations (CDC) and 4.43% of its stake to Société Fédérale de Participations et d'Investissement SA (SFPI-FPIM).
CDC is a French-government owned investment company. SFPI-FPIM is a Belgium-government owned investment company. The combined total of the share sale remains EUR709 million. The sale has met all required approvals.
About Intercontinental Exchange
Intercontinental Exchange, Inc.(NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 3, 2022.
What is the latest update on ICE's stake in Euroclear?
Intercontinental Exchange announced the completion of its divestment of a 9.85% stake in Euroclear for EUR709 million.
Who purchased the shares of Euroclear from ICE?
Caisse des Dépôts et Consignations (CDC) acquired 5.42%, and Société Fédérale de Participations et d'Investissement SA (SFPI-FPIM) acquired 4.43% of ICE's stake in Euroclear.
What was the value of the stake sold by ICE in Euroclear?
The total value of the stake sold by Intercontinental Exchange in Euroclear was EUR709 million.
When did ICE announce the divestment of its Euroclear stake?
ICE announced the plan to divest its stake in Euroclear in October 2021.
Have all approvals for the sale of ICE's Euroclear stake been obtained?
Yes, the sale has met all required regulatory approvals.
