Euroclear, a user-owned settlement company based in Brussels, has agreed to pay â¬470m ($730m) to expand its European network into the Nordic region ahead of a decision by the European Central Bank on whether to launch a rival settlement system.
Lazard advised the Nordic Central Securities Depository, operator of the Finnish and Swedish CSDs, on its acquisition by Euroclear from local lenders Nordea, SEB, Svenska Handelsbanken and Swedbank. Morgan Stanley worked for Euroclear on the transaction.
