Euronext reached acquisition agreement with Borsa Italiana Group at €4,325 million cash consideration

On October 9, 2020, Euronext announced 100% acquisition with London Stock Exchange Group Holdings Italia SPA​, the holding company of the Borsa Italiana Group( the “Proposed Combination”) for cash consideration of €4,325 million. This announcement follows the previous announcement made on 18 September 2020 by Euronext and CDP Equity that they had entered into exclusive discussions with LSEG regarding the potential acquisition of the Borsa Italiana Group. The completion of the Proposed Combination is expected in the first half of 2021.

The Borsa Italiana Group is the integrated Italian market infrastructure, with operations diversified across regulated markets. In 2019, the Borsa Italiana Group reached revenue of €464 million and EBITDA of €264 million, and respectively €478 million and €278 million for the last twelve months period ending on 30 June 2020.

The Managing Board and the Supervisory Board of Euronext have unanimously approved the transaction. On November 20, Euronext will convene an Extraordinary General Meeting to submit the Proposed Combination, private placement and rights offer for approval.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext commented,

 ”The acquisition of the Borsa Italiana Group marks a significant achievement in Euronext’s ‘Let’s Grow Together 2022’ 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” 

“This transaction will enhance the position of the Borsa Italiana Group within continental European capital markets. The Proposed Combination will create the backbone of the Capital Markets Union in Europe. ”