Euronext finalizes acquisition of Danish CSD VP Securities

Maria Nikolova

Shareholders representing more than 90% of the total share capital of VP Securities have already accepted Euronext’s offer.

Euronext NV (EPA:ENX) announces today that it has completed the settlement of shares under its offer launched on April 23, 2020 to acquire 100% of Danish Central Securities Depository VP Securities. Euronext will now fully consolidate VP Securities’ accounts in its financial statements.

Shareholders representing more than 90% of the total share capital of VP Securities (adjusted for treasury shares) have already accepted Euronext’s offer. Euronext’s tag-along offer to acquire the remaining shares in VP Securities will remain open until August 31, 2020. Any other shareholders, and shareholders with specific rights, who accept the Euronext offer before August 31, 2020 will receive payment on or around September 10, 2020.

Following such settlements, Euronext will initiate a compulsory acquisition procedure to acquire the remaining shares not already tendered, in accordance with the rules of the Danish Companies Act.

The acquisition of VP Securities is set to position Euronext as a leading CSD operator in Europe with three CSDs (Euronext VPS in Norway, Interbolsa in Portugal and VP Securities in Denmark) representing €2.2 trillion in assets under custody, 31 million settlement instructions per year and 4.5 million accounts.

Post-trade is now a major contributor to Euronext revenues, reaching 23% of 2019 pro forma revenue, significantly increasing the share of non-volume related revenue. Furthermore, following the acquisition of Oslo Børs VPS, completed in June 2019, and Nord Pool in January 2020, Euronext has developed a strong Nordic skillset and has built increasing proximity with the client community in the Nordic region.

Euronext also announces today the appointment of Maria Hjorth, current deputy CEO, as the new CEO of VP Securities, subject to regulatory approval. Maria Hjorth will replace Niels Olsen who decided to resign to pursue personal projects, after leading the strong development of VP Securities over the past seven years. Maria Hjorth will report to Anthony Attia, Euronext’s Global Head of Listing and Post-Trade.

Read this next

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

<