LSE agrees clearing house sale for Deutsche Boerse merger

The London Stock Exchange (LSE) said on Tuesday it has agreed to offload the French arm of clearing house LCH to European rival Euronext as it seeks a merger with Deutsche Boerse.

LSE said a cash deal worth 510 million euros ($534 million) had been struck with Euronext, adding in a statement that the proposed sale "would be subject to review and approval by the European Commission in connection with the recommended merger of London Stock Exchange Group (LSEG) and Deutsche Boerse".

LCH is majority owned by London Stock Exchange Group (LSEG), a diversified international exchange group that sits at the heart of the world's financial community, according to the company website.

LCH  is a leading multi-asset class and multi-national clearing house, serving major exchanges and platforms as well as a range of OTC markets.