London Stock Exchange Group plc (LSEG) announced Thursday that it has completed the divestment of its 4.92% Euroclear stake to TCorp.

The company said it sold its share of the Belgium-based financial market infrastructure company for a total consideration of €455 million.

TCorp is the investment and financial management partner of the New South Wales (NSW) public sector and is considered a top 10 Australian investment manager, with $115 billion in assets under management.

J.P. Morgan and BNP Paribas acted as advisors to LSEG on the transaction.

"Euroclear is a foundational component of the world's financial market infrastructure. This is a rare investment opportunity offering resilient returns and growth as well as portfolio diversity to our clients," commented TCorp's Chief Investment Officer, Stewart Brentnall.

Valérie Urbain, Chief Executive Officer of Euroclear, said TCorp is a "sophisticated global investor with a long-term investment horizon and anchored in the APAC region," adding that the deal aligns well to Euroclear's "strategic vision of long-term value creation through providing more liquid and stable markets for Europe and beyond."