NYSE Euronext, the bourse operator being acquired by IntercontinentalExchange has tapped JPMorgan and Societe Generale to help arrange the IPO of its European equity operations, four people with knowledge of the matter said.
Bloomberg News reports that a stake in the Euronext unit, which controls markets in Paris, Lisbon, Brussels and Amsterdam, may be sold next year, said the people, asking not to be named because the information isn’t public.
The sale could raise about $1bn, though the final size of the deal hasn’t been determined yet, two of the people said.
The IPO would end an experiment to unite the biggest U.S. and European stock-exchange operators that began in April 2007 after New York-based NYSE Group acquired Paris-based Euronext NV for $14.3bn. Jeffrey Sprecher, chief executive officer of IntercontinentalExchange, said in December that the European business would be reviewed for a possible sale.
French financial regulators want to know the plans for Euronext before approving ICE’s acquisition of NYSE, two people said. IntercontinentalExchange, the Atlanta-based futures market known as ICE, will retain the London-based Liffe derivatives venue, which was part of NYSE’s Euronext acquisition six years ago.
Merging NYSE Euronext with the second-largest futures market underscores both the growing importance of derivatives and the diminishing influence of the New York Stock Exchange, founded more than two centuries ago under a buttonwood tree in New York.
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