Euronext secures clearance from Norway’s Ministry of Finance to acquire Oslo Bors VPS

Maria Nikolova

Euronext confirms its intention to complete the transaction by the end of June 2019.

Euronext NV (EPA:ENX) has just announced that it has secured clearance from Norway’s Ministry of Finance to acquire up to 100% of Oslo Børs VPS’s capital. Euronext confirms its intention to complete the transaction by the end of June 2019.

Euronext has already secured a majority of the capital of Oslo Børs VPS (53.4%) including irrevocable pre-commitments, shares tendered to the Offer, and directly owned shares. This satisfies the 50% minimum ownership condition of its offer.

The Ministry’s decision was one of the last major conditions to complete the transaction.

Euronext’s shareholders have been asked to approve the transaction at the general meeting to be held on May 16, 2019. Euronext’s reference shareholders, who represent 23.86% of the capital, have confirmed their joint support for the transaction.

On April 8, 2019, Euronext received the Norwegian Financial Supervisory Authority’s (Finanstilsynet) advice to the Norwegian Ministry of Finance, recommending that Euronext should be approved as a suitable owner of up to 100% of the capital of Oslo Børs VPS, as applied for, without ownership or other restrictions.

Euronext reiterated its commitment to the further development of Oslo Børs VPS, both its stock exchange and the Central Securities Depository (CSD), through a client-centric plan benefitting all parties of the Norwegian financial community. Euronext will act accordingly to preserve and develop the specific contribution of Oslo Børs VPS to the Norwegian economy including the Equity Capital Certificates market, the Fish Pool market located in Bergen, the high yield bond market and a seamless efficient listing platform.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext said: “Euronext welcomes the Ministry’s clearance to acquire up to 100% of Oslo Børs VPS’s capital and look forward to completing the next steps to close the transaction by the 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 a hub for Euronext’s ambitions in the region. Euronext looks forward to supporting the Norwegian financial and business community, to working constructively with all key constituents and stakeholders to further drive the success of Oslo Børs VPS.”

Read this next

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

Digital Assets

Crypto Is An Invaluable Tool In The Fight Against Financial Oppression  

Crypto has proven itself to be much more than just a hot investment. Indeed, some say it’s poised to play a critical role in the future of finance

Executive Moves

Parameta appoints Head of Benchmark and Indices with a focus on ESG and rates

The firm said building out its benchmarks & indices offering will now be a core priority, with a particular focus on the ESG and rates space.

Digital Assets

WunderTrading brings automated crypto trading to United States

“Among developed countries, Americans are the heaviest users of cryptocurrencies, with 13% having invested in cryptocurrencies over the past year.”

Retail FX

ACY Securities sponsors child safety and family welfare charity Barnardos Australia

Sponsoring Barnardos will give ACY Securities and its employees an opportunity to do volunteer work through different outreach programs.

<