Oslo Bors VPS says to work closely with new majority owner
Both Euronext and Nasdaq have been granted permission to acquire shares in Oslo Børs VPS Holding ASA in accordance with their applications.
As expected, Oslo Bors VPS has published a comment regarding the decision by the Norwegian Ministry of Finance on the applications from Euronext and Nasdaq to become the owner of Oslo Børs VPS Holding ASA.
Both Euronext and Nasdaq have been granted permission to acquire shares in Oslo Børs VPS Holding ASA in accordance with their applications.
Oslo Bors notes, however, that Euronext has been authorised to own the number of shares for which it has pre-acceptances of its offer, in addition to the shares that it already owns directly. This means that Euronext can now acquire the shares for which it has acceptances, which would give it an overall ownership interest in the shares of Oslo Børs VPS of more than 50%. Euronext’s transaction is subject to approval at the general meeting (to be held on May 16) and completion of a due diligence process.
The Board of Oslo Børs VPS notes the decision and will work closely with the new majority owner in order to ensure the best possible solution further for the group, the business and the employees.
Both Nasdaq and Euronext’s offer periods expire on May 31, 2019. Euronext has stated that it will put forward a new offer following this date that will permit shareholders in Oslo Børs VPS to sell their shares on the same terms as the existing offer.
Both companies have been engulfed in a bidding race for Oslo Bors and both companies have offered NOK 158 per share in Oslo Bors.
