Advent International Exits Cetip

Advent International has sold its remaining 10% stake in Cetip, Latin America’s largest depositary of private fixed-income securities and Brazil’s largest private asset clearinghouse. The firm is selling its stake to publicly traded IntercontinentalExchange, which will purchase 12.4% of Cetip’s shares from Advent and other shareholders. IntercontinentalExchange will pay $512 million in cash for the stake.

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