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Silver Lake to buy NYSE-owner ICE's stake in Euroclear for 709 mln euros

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A screen displays the ticker symbol and logo for Intercontinental Exchange Inc. (ICE) on the floor of the New York Stock Exchange (NYSE) March 1, 2016. REUTERS/Brendan McDermid

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Oct 18 (Reuters) - U.S. buyout firm Silver Lake will acquire Intercontinental Exchange Inc's (ICE.N) stake in securities settlement platform Euroclear Holding for 709 million euros ($821.7 million), the companies said on Monday.

Euroclear, a Brussels-based provider of post-trade security settlement, custody, collateral management, fund management and data services, has 35.2 trillion euros of assets under custody.

New York Stock Exchange owner ICE had a 9.85% stake in Euroclear.

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Following the investment, which is expected to close in the first half of next year, Silver Lake wants one of its representatives to join Euroclear's board, the companies said.

Moelis & Co was ICE's financial adviser, while Lazard advised Silver Lake on the deal.

($1 = 0.8628 euros)

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Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

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