UK publishing group Pearson to sell its 50% stake in FTSE International on the London Stock Exchange for £450m as part of a bid to focus on news and analysis rather than data. LSE, which already controls the London Stock Exchange (and also that of Milan), will thus rise to 100% of FTSE.
The Ftse is one of the most important companies active in the creation and sale of stock indexes and the Ftse Mib also refers to it, the main index of Borsa Italiana. The transaction simplifies, reports the note of the London Stock Exchange, the process of global expansion and growth. The independence and governance of the FTSE will however be maintained.
The deal is expected to close by Q2012 10 and the benefits are valued at cost synergies of £18m pa, revenue synergies of £XNUMXm pa by the end of QXNUMX. Earnings benefits are expected immediately. The operation will be financed with group resources and with new credit lines for which the LSE has already secured £350 million in commitments.
“Fully aligning FTSE with one of the most liquid and international trading groups in the world is an exciting opportunity,” he comments. London Stock Exchange CEO Xavier Rolet. "We expect this immediately earnings-enhancing transaction to create long-term growth and value for our customers and shareholders."
