Euronext receives clearance from the Danish Financial Supervisory Authority to acquire up to 100% of VP Securities, the Danish Central Securities Depository
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EURONEXT RECEIVES CLEARANCE FROM THE DANISH FINANCIAL SUPERVISORY AUTHORITY TO ACQUIRE UP TO 100% OF VP SECURITIES, THE DANISH CENTRAL SECURITIES DEPOSITORY
Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris – 16 July 2020 – Euronext, the leading pan-European exchange, today announces it has received the clearance from the Danish Financial Supervisory Authority to acquire up to 100% of VP Securities A/S1 (“VP Securities”) on 15 July 2020. Euronext welcomes this regulatory approval by the Danish FSA that was the only condition to complete the transaction.
Euronext has already secured strong support from existing shareholders of VP Securities with shareholders representing 90.68% of the total shares2 having already accepted Euronext’s offer as of today.
Euronext’s tag along offer to acquire the remaining shares in VP Securities will remain open until 31 August 2020. According to the terms of the Euronext’s tag along offer to the minority shareholders of VP Securities, shareholders having accepted the Euronext’s offer will receive settlement on or around 3 August 2020. Any other shareholders and shareholders with specific rights, accepting Euronext offer, before 31 August 2020, which is the latest date to accept Euronext’s offer, will receive payment on or around 10 September 2020.
Following such settlements, Euronext intends to initiate a compulsory acquisition procedure to acquire the remaining shares not already tendered in accordance with the rules of the Danish Companies Act.
Euronext is the leading pan-European exchange, covering Belgium, France, Ireland, The Netherlands, Norway, Portugal and the UK. With close to 1,500 listed issuers worth €3.8 trillion in market capitalisation as of end June 2020, Euronext has an unmatched blue chip franchise that includes 25 issuers in the Morningstar® Eurozone 50 Index℠, and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. In addition to its main regulated market, Euronext also operates Euronext GrowthTM and Euronext AccessTM, simplifying access to listing for SMEs. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. The Norwegian stock exchange and its custody & settlement subsidiary, together operating as Oslo Børs VPS, joined Euronext on 17 June 2019.
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1 For more information about VP Securities acquisition, please refer to 23 April 2020 press release, available on www.euronext.com/investors.
2 Adjusted for treasury shares.