The IntercontinentalExchange (ICE) will acquire a stake in Brazilian clearing house Cetip. ICE will pay $512 million for the 12.4% stake in Cetip. The stake was sold by Advent International, which took Cetip public in 2009, adds Financial Times.
ICE will pay $302 million from cash on hand and $210 million from its credit facilities. The deal is expected to be completed by July 15, 2011. Goldman Sachs and Broadhaven Capital Partners acted as advisors to ICE on the deal.
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