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Latham Represents LSEG in Divesting BETA+ to Clearlake and Motive and Entering Strategic Partnership in Wealth With BETA+

March 21, 2022
Multidisciplinary team advises on the transaction.

London Stock Exchange Group plc (LSEG) has announced it has agreed to divest BETA, Maxit and Digital Investor (collectively BETA+) to affiliates of Clearlake Capital Group L.P. and Motive Partners for a total cash consideration of US$1,100 million, before tax and separation costs. The transaction is expected to complete in H2 2022 and is subject to the satisfaction of certain customary conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and certain customer consents.

Latham & Watkins LLP represents London Stock Exchange Group in the transaction with a corporate team led by New York partners Leah Sauter and Peter Harwich, with associates Sašo Kraner and Katherine Cody. Advice was also provided on tax matters by New York partners Lisa Watts and Eric Kamerman; on benefits & compensation matters by New York partner Jennifer Pepin, with associate Max Raskin; on antitrust matters by Washington, D.C. partner Farrell Malone, and Bay Area partner Kelly Fayne, with associates Doug Tifft and Zoë Hutchinson; on intellectual property matters by New York partner Steven Betensky, with associates Ryan Clore and Ryan Sanders; on data privacy & security matters by Washington, D.C. partner Tony Kim, with associate Adriana Beach; on export controls and sanctions matters by Washington, D.C. counsel Andrew Galdes; on insurance matters by Los Angeles partner Drew Levin, with associate Harrison White; and on certain UK law matters by London partners Anna Ngo, Edward Barnett, and Farah O'Brien.