LSE: sells Italian unit to secure Refinitiv deal
(CercleFinance.com) - London Stock Exchange Group on Friday confirmed that it has agreed to sell its entire stake in Italian stock-exchange operator Borsa Italiana to Euronext, based on an equity value of 4.
3 billion euros.
LSEG announced in July that, in the context of the European Commission's review of the Refinitiv acquisition, it had commenced exploratory discussions about a sale of Borsa Italiana as a whole.
"We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns," LSEG CEO David Schwimmer said.
The proceeds in cash of over 4.3 billion euros are expected to be accompanied with an additional amount reflecting cash generation to completion, LSEG said.
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3 billion euros.
LSEG announced in July that, in the context of the European Commission's review of the Refinitiv acquisition, it had commenced exploratory discussions about a sale of Borsa Italiana as a whole.
"We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU's competition concerns," LSEG CEO David Schwimmer said.
The proceeds in cash of over 4.3 billion euros are expected to be accompanied with an additional amount reflecting cash generation to completion, LSEG said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.