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Euronext Announces Binding Agreement to Sell Its 20% Minority Stake in EuroCCP

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Euronext Announces Binding Agreement to Sell Its 20% Minority Stake in EuroCCP

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EURONEXT ANNOUNCES BINDING AGREEMENT TO SELL ITS 20% MINORITY STAKE IN EUROCCP

Amsterdam, Brussels, Dublin, Lisbon, London, Oslo and Paris – 10 December 2019 – Euronext, the leading pan-European exchange, announces it has entered into a binding agreement to sell its 20% minority stake in EuroCCP to Cboe Global Markets, alongside the other current EuroCCP shareholders.

Euronext remains committed in developing its Post Trade strategy, described in its Let’s Grow Together 2022 strategic plan. Euronext will continue to leverage its long term derivatives clearing agreement with, and its 11.1% equity stake in, LCH SA, and develop its two fully-owned CSDs in Norway and Portugal, as the foundation for further growth in Post Trade.

The transaction is expected to close in H1 2020, subject to receipt of required regulatory clearances and the arrangement of a supporting liquidity facility at the EuroCCP clearing entity level.

Euronext expects to receive net proceeds of approximately €9 million from the sale of its minority stake. As a result of this agreement, Euronext will impair the value of its participation by approximately €6 million in Q4 2019.

CONTACTS -
Media
Pauline Bucaille                                     +33 1 70 48 24 41; pbucaille@euronext.com 

Analysts & investors
Aurélie Cohen / Clément Kubiak           +33 1 70 48 24 27; ir@euronext.com

About Euronext
Euronext is the leading pan-European exchange, covering Belgium, France, Ireland, The Netherlands, Norway, Portugal and the UK. With close to 1,500 listed issuers worth €4.3 trillion in market capitalisation as of end September 2019, Euronext has an unmatched blue chip franchise that includes 26 issuers in the Morningstar® Eurozone 50 Index℠ and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs.  The Norwegian stock exchange and its clearing & settlement subsidiary, together operating as Oslo Børs VPS, joined Euronext on 17 June 2019.  
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Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication November be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.
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