Advent Sells Remaining Stake in Cetip

Advent Sells Remaining Stake in Cetip

Brazil Funds Equity

Global private equity firm Advent International agreed to sell its remaining 10% stake in Brazilian private asset clearinghouse Cetip for approximately $512m to IntercontinentalExchange (ICE). ICE will acquire 31.6m shares of Cetip common stock for BRL25.50 per common share, including 6.4m shares held or controlled by Brazilian bank Itau. The transaction will make ICE the largest shareholder in Cetip. The transaction consideration includes $302m from ICE's cash on hand and $210m drawn from ICE's

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