Euronext today confirms that the European Commission has approved Euronext under the EU Merger Regulation as a suitable purchaser for the planned acquisition of the Borsa Italiana Group.
This approval further improves the certainty of execution of the transaction, by satisfying an additional major condition for the completion of the transaction.
The European Commission’s decision follows the approval of the deal by London Stock Exchange Group’s shareholders on November 3, 2020, as well as the approval by Euronext’s shareholders on November 20, 2020.
The transaction still remains subject to regulatory approvals in several jurisdictions and a declaration of non-objection from Euronext’s College of Regulators. Euronext expects to complete the deal in the first half of 2021.
As FX News Group has reported, LSEG plc announced on October 9, 2020 that it had agreed to sell its entire shareholding in London Stock Exchange Group Holding Italia S.p.A. to Euronext N.V. LSEG is expected to receive proceeds in cash on closing (before deductions of applicable taxes and other transaction related costs) of €4.325 billion plus an additional amount reflecting cash generation to completion.