Clifford Chance (CC), Jones Day and Freshfields Bruckhaus Deringer have taken roles on the €510m (£432m) sale of the London Stock Exchange's (LSE) French arm to rival Euronext.

The asset being sold, LCH SA, is the French-regulated subsidiary of clearing house the LCH Group, which is 57% owned by the LSE.

The sale is subject to regulatory approval by the European Commission and would also be contingent on the successful closing of the merger of LSE and Deutsche Boerse, which was announced in March.

LCH Group is being advised by CC. Its team is being led by corporate partners Katherine Moir and Tim Lewis, with support from Thierry Schoen in Paris, regulatory partner Simon Gleeson, antitrust partner Alex Nourry, tax partner Nick Mace and employment partner Alistair Woodland.

Freshfields is acting for LSE on the sale with a team led by corporate partners Philip Richards, Stephen Hewes and Andrew Hutchings.

Euronext is being advised by Jones Day. The deal is being led by a team including Paris-based banking and finance partner Alban Caillemer du Ferrage, Paris M&A partner Audrey Bontemps, London M&A partner Leon Ferera and London private equity partner Liam Bonamy.

The team is being assisted by Paris financial institutions litigation and regulation partner Philippe Goutay, London financial institutions litigation and regulation partner John Ahern and London intellectual property partner Jonathon Little.

Freshfields is also advising its longstanding client LSE on the merger talks with Deutsche Boerse. Linklaters is advising Deutsche Boerse.

The Freshfields team acting for LSE on the Deutsche Boerse merger consists of Hutchings, London M&A co-head Piers Prichard Jones and M&A partner Mark Rawlinson, who has now departed to investment bank Morgan Stanley.

Linklaters is acting for Deutsche Boerse. Its team is being led by London corporate partner Roger Barron and also includes London corporate partner Simon Branigan and Germany corporate partners Ralph Wollburg and Staffan Illert.

CC is also a longstanding adviser to the LCH Group, having acted on the €1.2bn (£831m) merger of the London Clearing House and Clearnet in 2003 and also LSE's acquisition of a majority stake in LCH Group in 2013.