POTENTIAL SALE OF LCH SA
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE
LCH Group Limited (“LCH Group”) notes the European Commission’s announcement confirming the commencement of Phase II proceedings in connection with its review of the recommended merger of London Stock Exchange Group Plc (“LSEG”) and Deutsche Börse AG which was announced on 16 March 2016 (the “Merger”), and the subsequent announcement by LSEG regarding the potential sale of LCH SA issued earlier today.
LCH Group confirms that LCH Group and LSEG intend to explore a potential sale of LCH SA, LCH Group’s French-regulated operating subsidiary, in order to enable LSEG to address proactively anti-trust concerns raised by the European Commission in relation to certain businesses.
Any potential sale of LCH SA would be subject to review and approval by the European Commission in connection with the Merger and other customary conditions including relevant regulatory approvals. It would also be conditional on the successful closing of the Merger.
London Stock Exchange Group plc
Gavin Sullivan / Lucie Holloway / Ramesh Chhabra (Press Office) +44 20 7797 1222
Paul Froud (Investor Relations) +44 20 7797 3322
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LCH is a group of leading multi-asset clearing houses that provides proven risk management capabilities across a range of asset classes. As demand for robust clearing services continues to grow, LCH is committed to maintaining the highest standards of risk management across all our services.
As the markets’ partner, LCH operates an open access model, offering a choice of execution venues, delivering unprecedented choice and efficiencies to the marketplace.
LCH operates clearing houses around the world, with clearing houses incorporated in the UK, France and the United States with additional offices in the Asia Pacific region. It offers clearing services across asset classes including OTC and listed rates; CDS and FX; fixed income; commodities; cash equities and equity derivatives.
LCH is majority owned by London Stock Exchange Group (LSE.L), an international markets infrastructure business that sits at the heart of the world's financial community.