Banca March has finalised the sale of 41% of Inversis to Euroclear for a total of €221 million. The operation, which will be completed in 18 months, will allow Euroclear to acquire 100% of the entity.
The sale of 41% of Inversis to Euroclear by Banca March has been confirmed by the entity, according to expansion.com. With this transaction, Euroclear increases its stake in Inversis to 90%, having disbursed a total of €393 million.
The acquisition process will be finalised in 18 months, at which point Euroclear will purchase the remaining 10%. The price of this final portion will depend on the fulfilment of certain clauses, and the total figure could exceed €430 million.
Banca March acquired Inversis in 2013 for €217 million and has supported its growth during this time. Euroclear's strategy with Inversis aims to expand access to larger clients and extend its business model to other markets, especially in Spain and Italy.
Inversis currently has over 165 clients in various regions, including Spain and Andorra. It offers services such as execution, settlement, custody of securities, and distribution of investment funds.
Despite the acquisition, Inversis will continue to operate as an independent entity within Euroclear, maintaining its name and service model, as well as its team and local market knowledge.
The purchase of Inversis also strengthens Euroclear's position in southern Europe, where its fund distribution platform, operating with €4.6 trillion, will benefit from integration with Inversis.
“At Euroclear, we have found the ideal partner to take Inversis to a new stage of development,” said José Luis Acea, CEO of Banca March.
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