Amsterdam, Brussels, Dublin, Lisbon, London and Paris - 28 December 2018 - Euronext, the leading pan-European exchange, announces today that it has raised its commitment from 49.6%, as announced on 24 December 2018, to 50.6% of Oslo Børs VPS Holding ASA ("Oslo Børs VPS") outstanding shares in the context of the tender offer to be launched. This 50.6% commitment is comprised of irrevocable pre-commitments from Oslo Børs VPS shareholders to tender 45.5% of the outstanding shares, and share purchases performed by Euronext, representing a further 5.1% of the capital (2,193,000 shares).
Exceeding the 50% of total outstanding shares threshold shows the interest from Oslo Børs VPS shareholders for Euronext's offer to be launched, satisfying one of the conditions required for its completion and strengthening Euronext's confidence on its successful outcome. In this end, Euronext will continue to feed into a constructive dialogue with all Oslo Børs VPS stakeholders.
As a reminder1, as part of the contemplated transaction, Euronext would, as soon as practical, launch a NOK 6.24 billion (€625m) all-cash offer for the outstanding shares in Oslo Børs VPS, the Norwegian Stock Exchange and national CSD operator, at NOK 145 per share. This represents a 32% premium on Oslo Børs VPS's closing price on 17 December 2018 and 34% on Oslo Børs VPS's 3-month volume-weighted average share price. Euronext's offer will be subject to certain customary conditions including a short due diligence period, minimum acceptance threshold of 50%, regulatory approvals and a favourable vote of Euronext shareholders.
There can be no certainty that a transaction will be completed. The company undertakes no obligation to update the market on the discussions. Euronext will communicate material information, if any, in due course.
Press Release published on 24 December 2018 is available here