London Stock Exchange Sells 4.92% Stake in Euroclear to TCorp for €455 Million

Forex - The London Stock Exchange Group sold its 4.92% stake in the financial services firm Euroclear to TCorp for 455 million euros. Euroclear is a Belgium-based global financial markets infrastructure company that services approximately 2,400 financial institutions and holds assets worth 40 trillion euros in custody. TCorp's Chief Investment Officer Stewart Brentnall confirmed the transaction in a statement stating, "This is a rare investment opportunity that offers our clients flexibility in returns and growth, as well as portfolio diversification." TCorp, which belongs to the state of New South Wales in Australia, operates as the state's investment and financial management partner with assets under management totaling 115 billion Australian dollars.