European exchange group Euronext is to acquire a 20 per cent stake in central counterparty EuroCCP for around EUR14 million, subject to closing adjustments.

This follows the announcement on 12 May confirming Euronext was in exclusive talks to acquire a stake in EuroCCP.
 
The completion of the transaction is subject to regulatory approvals and the deal is expected to close towards the end of the year.
 
The transaction will enable Euronext to offer user choice in clearing for the equity markets within the Eurozone, through the implementation of a preferred CCP model followed by a fully interoperable service, which will be open to other CCPs in due course.