UK Top 50 law firm Birketts has advised Euronext on its share capital acquisition of Global Rate Set Systems (GRSS).
Euronext, the leading pan-European market infrastructure, has announced that it will acquire 75% of the share capital of GRSS, which is a leading provider of services to benchmark administrators.
The acquisition expands and enhances Euronext’s index franchise, positioning the Group as a leading player in the calculation and administration of Interbank Offered Rate (IBOR) indices. GRSS provides mission-critical services to the benchmark administrators that produce three of Europe’s critical interest rate benchmarks.
The Birketts team was led by Partner Adam Jones (Corporate) and was supported by Tom Utting (Associate, Corporate), Faye Power (Solicitor, Corporate), Alex Price (Solicitor, Corporate), Karl Pocock (Parter, Corporate Tax) and Emma Nel (Solicitor, Corporate Tax).
On the deal, Adam Jones said: “Working with the M&A and legal teams at Euronext in this global acquisition, alongside a network of counsel in seven other jurisdictions, has been a fantastic experience, and it clearly demonstrates Birketts’ credentials for international M&A. This sizeable deal provides a fantastic opportunity for the growth of Euronext’s indices business, for which we wish the team all the best for the future.”
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