Belgian state becomes shareholder in securities manager Euroclear
Friday, 09 November 2018
L’Echo and De Tijd are reporting on Friday that the Belgian state has acquired a 2% shareholding in the largest European securities agent, Euroclear. The shares in the company were, up until now, owned by the French bank, Société Générale.
Both daily publications are saying that the transaction took place through the Federal Corporation for Shares and Investments (the “SFPI”). The total value of the transaction is €120 million, which thereby gives Euroclear a total value of €5.85 billion.
Euroclear regulates the securities transactions of 2,000 major investors, such as global pension funds and insurers. The company looks after nearly €29 trillion in securities deposited by clients with the institution.
The company is on the point of moving its headquarters in Brussels. The Belgian state is counting upon generous dividends, which amounted to €123 million last year.