LCH.Clearnet will buy back 33,299,973 shares in its shareholder redemption offer - a 100% success rate. The London-based clearing house will pay €10 a share in a deal that will pay shareholders a total of €443m.
The number of shareholders that wished to cash in their equity stakes in LCH.Clearnet was announced by the company secretary on October 26.
LCH.Clearnet will retire the 33.29m shares at a cost of €332.99m. However, the cost of the equity redemption plan also includes a special dividend of €1.50 a share, worth €111m, which will be paid to all shareholders.
The redemption now...