Intercontinental Exchange sells 9.9% Euroclear stake to two European buyers
Intercontinental Exchange Inc. said Tuesday it agreed to sell its 9.9% stake in Brussels-based security settlement company Euroclear for a combined 709 million euros ($746 million) to two European buyers. ICE will sell a 5.42% stake in Euroclear to French, government-owned investment firm Caisse des Dépôts et Consignations (CDC) and 4.43% of its stake to Société Fédérale de Participations et d'Investissement SA (SFPI-FPIM), a Belgium government investment company. The sale comes after ICE in October announced its plan to sell the holding to Silver Lake, but during the approval process two other buyers emerged. Shares of Intercontinental Exchange are down 28.9% this year, compared to a 15.9% loss by the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.