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Euronext estimates its stake in Oslo Bors VPS is 61.4%

Maria Nikolova

Settlement of shares tendered under the offer and agreed to be acquired is expected to occur by June 14, 2019.

Euronext NV (EPA:ENX) has just published estimates showing it now 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.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext said: “Euronext thanks all the Oslo Børs VPS shareholders who supported its offer and looks forward to closing the transaction by end of June 2019. As part of the Euronext family, Oslo Børs VPS will continue to be a strong and leading Nordic exchange and CSD, and will become the hub for Euronext’s ambitions in the region. We will now start working with the management and employees of Oslo Børs VPS to build our common strategy for the benefit of all stakeholders.”

The bidding race for the acquisition of Oslo Bors VPS came to an end on May 27, 2019, as Nasdaq AB, an indirect subsidiary of Nasdaq Inc (NASDAQ:NDAQ), announced that it had withdrawn its offer to acquire all of the issued shares of Oslo Børs VPS Holding ASA.

Nasdaq explained back then that the minimum acceptance condition for completion of the Offer was incapable of being satisfied. Shareholders who previously accepted the Offer were released from their obligations under the Offer.

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