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EU: ICE to divest Euronext six months after acquisition

 |  May 27, 2014

The Intercontinental Exchange Group is reportedly set to spin-off Euronext, just six months after it acquired the exchange through its purchase of NYSE Euronext.

According to reports, ICE plans to float Euronext in an initial public offering later this year, beginning in Paris, Amsterdam and Brussels, and later in Lisbon.

Euronext was first paired with the New York Stock Exchange in a 2007 merger. The combined company at one point looked to grow even further through a merger with Deutsche Borse, but the European Commission blocked the deal in 2012.

Atlanta-based ICE then acquired NYSE Euronext in an $8.2 billion acquisition after the Commission’s ruling. According to reports, ICE had always intended to spin-off Euronext, and had originally looked to acquire the company for its derivatives asset Liffe.

Full content: NYTimes

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