DNB accepts bid from Euronext for Oslo Bors’ shares

Maria Nikolova

DNB has accepted Euronext’s offer to buy all of the 8,522,045 shares that DNB Liv holds in Oslo Børs VPS Holding ASA.

DNB Livsforsikring AS (DNB Liv), a subsidiary of Norwegian financial services group DNB ASA, has today accepted Euronext’s offer to buy all of the 8,522,045 shares that DNB Liv holds in Oslo Børs VPS Holding ASA.

As a result of the transaction, DNB Liv’s total shareholding in Oslo Bors is reduced from 19.82% to 0. The accepted offer price is NOK 158 per share plus interest payment (which amounts to approximately NOK 3 per share).

Earlier this week, Euronext NV (EPA:ENX) published estimates showing it controls 61.4% of Oslo Børs VPS capital. This capital is owned through direct ownership, irrevocable commitments and acceptances of the offer launched on January 14, 2019 and declared unconditional on May 31, 2019. The settlement of shares tendered under the offer and agreed to be acquired is expected to occur by June 14, 2019.

On May 31, 2019, Euronext launched an unconditional offer on the same terms (NOK 158 plus a fixed interest payment of NOK 3.21 per share) for all issued and outstanding shares not already owned by it. This unconditional offer is open for acceptance until June 28, 2019 at 18:30 Central European Time.

Shareholders who accept this unconditional offer on or before June 7, 2019 will receive settlement on June 14, 2019. Shareholders are informed that Euronext will not be subject to any obligation to make, and does not intend to make, any new offer to Oslo Børs VPS shareholders once this unconditional offer has been completed.

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