The Belgian state has increased its stake in Euroclear, Europe’s largest securities depository, according to a press release issued on Monday. BNP Paribas Fortis sells its stake in Euroclear to the Federal Reserve Investment Company SFPI.
It owned a 2.05% stake for several years and is now acquiring over 97,520 shares or 3.1% of the share capital. Financial details were not disclosed.
BNP Paribas Fortis has been a shareholder of Euroclear since its incorporation in 1972. “The sale to FPIM ensures the continuity of the Belgian fixation of Euroclear shares,” the press release states. Sale is subject to Euroclear Board approval and usual regulatory approvals.
Euroclear has its main activities in our country. The Belgian state can guide through its participation to maintain those vital IT activities and infrastructure in our country. At the same time, the government benefits from Euroclear’s generous dividend policy.
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