Euronext to Acquire Borsa Italia for €4.3bn
Euronext has entered into a binding agreement with London Stock Exchange Group to acquire 100% of Borsa Italiana Group for €4.3 billion.
This purchase significantly enhances the scale of Euronext, diversifies its business mix into new asset classes and strengthens its post-trade activities.
The transaction is conditional upon the divestment of the Borsa Italiana Group (or a material part), which is a condition of the European Commission's clearance decision for LSEG's proposed acquisition of Refinitiv.
Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext said, "The acquisition of the Borsa Italiana Group marks a significant achievement in Euronext's .... strategic plan and a turning point in our Group's history. Thanks to this transaction, Euronext will significantly diversify its revenue mix and its geographical footprint by welcoming the market infrastructure of Italy, a G7 country and the third largest economy in Europe."
He added, "The combination of Euronext and the Borsa Italiana Group, with the strategic support of long-term investors such as CDP, delivers the ambition of building the leading pan-European market infrastructure, connecting local economies to global capital markets. This transaction will enhance the position of the Borsa Italiana Group within continental European capital markets...The Borsa Italiana Group will preserve its identity and integrity within Euronext's federal model, while benefiting from enhanced governance, best-in-class offering and technology, to better serve the Italian capital markets."