Shareholders of Cedel, the company which owns half of Clearstream, the international settlement house, have agreed to sell their share of the depository to Deustche Börse, which already owns the other half.

Deutsche Börse's bid values the depository at €3.2bn ($2.8bn). It will pay Cedel's shareholders €1.6bn in either cash or shares. Cedel shareholders also receive an estimated minimum of €150m, which represents the net asset value of Cedel's other assets. The exchange will gain 100% control of the depository.