May 20, 2016 / 5:07 PM / 2 years ago

Cetip agrees to be acquired by Brazilian rival BM&FBovespa

SAO PAULO, May 20 (Reuters) - Shareholders in Cetip SA Mercados Organizados, Latin America’s largest securities clearinghouse, agreed on Friday to a takeover by Brazilian bourse BM&FBovespa SA, blessing the creation of a regional giant with businesses from Mexico to Chile.

At a ballot that took place on Friday at the Rio de Janeiro-based offices of Cetip, shareholders also decided to drop a compulsory tender offer that could have had to be launched prior to the acquisition by BM&FBovespa, according to a securities filing. BM&FBovespa agreed to pay $3.6 billion for Cetip on April 8. (Reporting by Guillermo Parra-Bernal)

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