Euronext finalizes Nord Pool deal

Maria Nikolova

Via the acquisition, Euronext diversifies its revenue mix by entering the power market, and reinforces its commodity franchise.

Euronext NV (EPA:ENX) today announces the completion of the acquisition of 66% of the share capital and voting rights of the Nord Pool group, including Nord Pool AS, Nord Pool Consulting AS and European Market Coupling Operator AS. The deal is finalized after the receipt of the necessary regulatory approvals.

Through the acquisition of Nord Pool, the second largest power market in Europe, Euronext diversifies its revenue mix by entering the power market, and reinforces its commodity franchise. This transaction also contributes to the group’s ambition to grow its presence in the Nordic region and further strengthens Oslo as Euronext’s main hub in the Nordics.

As part of the transaction, Euronext has entered into a shareholder agreement with the Transmission System Operators (TSOs), formerly the sole owners of Nord Pool. They retain a 34% stake through a joint holding company.

Nord Pool activities will be consolidated in Euronext financials, starting on January 16, 2020. Euronext notes that, in 2018, Nord Pool generated approximately €40 million revenue and 524 TWh were traded on its markets.

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, commented:

“The acquisition of Nord Pool is a new milestone in developing Euronext into the leading pan-European market infrastructure and in achieving our ambition to expand further in the Nordics. We are pleased to welcome Nord Pool’s employees, whose expertise in running power markets will reinforce our commodities franchise.”

This acquisition, which was announced on December 5, 2019, marks another major step towards reaching Euronext’s objective to grow its presence in the Nordic region, following the acquisition of Oslo Børs VPS in June 2019.

Nord Pool is set to be a pillar of Euronext’s Group centre of excellence for commodities in Oslo. In turn, Nord Pool will benefit from Euronext’s extended footprint and commercial efforts in continental Europe to expand the reach of its leading technology, and its employees will join a pan-European Group with international career opportunities.

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