Euronext completes the acquisition of VP Securities

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EURONEXT COMPLETES THE ACQUISITION OF VP SECURITIES

Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris – 4 August 2020 – Euronext, the leading pan-European market infrastructure, announces today that it has completed the settlement of shares under its offer launched on 23 April 2020 to acquire 100% of VP Securities, the Danish Central Securities Depository. 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 31 August 2020. Any other shareholders, and shareholders with specific rights, who accept the Euronext offer before 31 August 2020 will receive payment on or around 10 September 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 positions 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, to the full benefit of the local ecosystems.