StockMarketWire.com - London Stock Exchange Group said Wednesday it would acquire a 4.92% stake in Belgian settlment service provider Euroclear for €278.5m.

Euroclear also provide custody and collateral management services across Europe, with €28.2tn in assets under custody.

The stake in Euroclear was expected to strengthen LSE's and Euroclear's existing operational and commercial relationship and provide further opportunities to deliver customer benefits.

An LSE representative was expected to join Euroclear's board Story provided by StockMarketWire.com