Euronext has received the Danish FSA’s clearance to acquire VP Securities
Euronext, the leading Pan-European exchange, received the Danish FSA’s clearance to acquire up to 100% of VP Securities. The acquisition was announced on 23 April 2020.
With this transaction, VP Securities becomes part of the Euronext Group, which has extensive expertise in financial infrastructure, including stock exchanges, CSD activities, and other investor-related services. Besides the future ownership of VP Securities, Euronext is already present in the European CSD market via its ownership of Euronext VPS in Norway, and Interbolsa in Portugal.
“I am pleased that the Danish FSA’s clearance is now in place and that the sale of VP Securities to Euronext can be finalised. The sale of VP Securities is a natural and important step as the CSD industry is moving towards consolidation and harmonisation,” says Peter Lybecker, Chairman of the BoD of VP Securities.
Euronext has already secured strong support for the acquisition from the existing shareholders of VP Securities. As of today, shareholders representing 90.68% of the total number of shares1 have accepted the offer to sell their shares to Euronext. The remaining shareholders have been offered sale of their shares to Euronext on the same terms until 31 August 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.
“By becoming part of a strong European company with activities within many stages of the financial infrastructure, we can benefit from the know-how and the solutions in the overall Euronext organisation, while strengthening our ability to create innovation and benefits of scale. Going forward, this means that we can offer our customers even better and more competitive post-trade services,” says Niels Olsen, CEO of VP Securities.
For further information concerning Euronext’s acquisition of VP Securities A/S, see the press release of 23 April 2020 and 16 July 2020.
Chairman of the Board
For further information and comments, please contact Chairman Peter Lybecker on + 45 4080 3300
1 Adjusted for treasury shares