The London Stock Exchange Group PLC (LSE:LSEG) has officially disposed of its Euroclear stake for a total consideration of €455 million (£375 million).
Brussels-based Euroclear is Europe’s largest settlement house for cross-border securities transactions, including stocks and bonds.
LSEG acquired a 4.92% stake in the business in 2019 for €278.5 million, implying a 63% return on the investment before expenses.
The disposal to TCorp implies a €9 billion-plus Euroclear valuation.
TCorp, also known as New South Wales Treasury Corporation, is the financial and investment management organization for the New South Wales (NSW) government in Australia.
JP Morgan and BNP Paribas acted as advisors to LSEG on the transaction.