# Euronext to sell 11.1% stake in LCH SA to LCH Group
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2023-06-26
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Euronext to sell 11.1% stake in LCH SA to LCH Group for $121.1 million
Meta Description: European stock market operator Euronext sells its 11.1% stake in LCH SA to LCH Group, leading to a 40 million euro capital gain.
URL: https://startupobserver.com/euronext-to-sell-11-1-stake-in-lch-sa-to-lch-group/

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PARIS (Reuters) -European stock market operator Euronext said on Monday it had agreed to sell its 11.1% stake in the European operations of clearing company LCH SA to LCH Group Holdings, for 111 million euros ($121.1 million).

The Amsterdam and Paris-based platform said in a statement that the transaction will lead to a 40 million euro tax-exempt non-underlying capital gain in the company’s third-quarter results.

Euronext entered LCH SA’s capital in 2017, exchanging a 2.3% stake in LCH Group for an 11.1% share in LCH SA.

“The price has been defined by an independent expert, in accordance with the pre-agreed terms for the buy back”, Euronext added.

($1 = 0.9168 euros)

(Reporting by Sudip Kar-Gupta and Victor Goury-Laffont; Editing by Kim Coghill and Louise Heavens)


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