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.
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.
Maria Hjorth, new CEO of VP Securities, said:
“VP Securities is entering into a new phase of its development, as
a Euronext company. It is now part of a larger, international
group, with a clear strategy: build the leading pan-European market
infrastructure. Since I joined VP, I have led and developed our
company strategy as a standalone business. I am delighted to now
become CEO of the company to lead the next step of its
transformation as part of a larger group. I want to thank
Niels Olsen for seven dedicated years as CEO and I wish him all the
best in this new phase of his life.”
Niels Olsen, former CEO of VP Securities,
said:“After 30 years in management positions in the financial
industry, I have now decided to resign from my position as CEO of
VP Securities to look into a more flexible work life. As I hand
over to Maria Hjorth, I am pleased to witness VP Securities
entering a new stage of its development as it becomes part of the
Euronext Group, and I wish VP Securities and Euronext all the best
for the future.”
Stéphane Boujnah, CEO and Chairman of the
Managing Board of Euronext, said: “Post-trade activities are at the
heart of Euronext’s growth strategy, and will be an even larger
contributor to our revenue following the acquisition of VP
Securities. Alongside Euronext VPS and Interbolsa, we will
strengthen our positioning in this field, and continue to expand
our footprint in the Nordic region with new and improved services
to the benefit of the Danish economy and European capital markets.
I would like to thank Niels Olsen for his achievements and success
as CEO and welcome Maria Hjorth as the new CEO of VP Securities. I
have full confidence that, under her leadership, VP Securities will
continue its successful development within the pan-European
framework of the Euronext Group.”
CONTACTS - Pauline Bucaille (Europe/Paris)
:
+33 1 70 48 24 41; pbucaille@euronext.comPascal Brabant
(Brussels):
+32 2 620 15 50; pbrabant@euronext.comMichael Russell
(Dublin):
+353
1 617 4221; mrussell@euronext.comSandra Machado
(Lisbon):
+351 210 600 614; smachado@euronext.comGeirHarald Aase
(Oslo):
+47 22.34.19 15; GeirHarald.Aase@oslobors.no
Analysts & investorsAurélie
Cohen/Clément
Kubiak
+33 1 70 48 24 27; ir@euronext.com
About
Euronext
Euronext is the leading pan-European market
infrastructure connecting local economies to global capital
markets, to accelerate innovation and sustainable growth. It
operates regulated exchanges in Belgium, France, Ireland, The
Netherlands, Norway and Portugal. With close to 1,500 listed
issuers worth €3.8 trillion in market capitalisation as of end June
2020, it has an unmatched blue chip franchise and a strong diverse
domestic and international client base. Euronext operates regulated
and transparent equity and derivatives markets and is the largest
centre for debt and funds listings in the world. Its total product
offering includes Equities, FX, Exchange Traded Funds, Warrants
& Certificates, Bonds, Derivatives, Commodities and Indices.
Euronext also leverages its expertise in running markets by
providing technology and managed services to third parties. In
addition to its main regulated market, Euronext also operates
Euronext GrowthTM and Euronext AccessTM, simplifying access to
listing for SMEs. Euronext provides custody and settlement
services through central securities depositaries in Norway and
Portugal. For the latest news, find us on Twitter
(twitter.com/euronext) and LinkedIn (linkedin.com/euronext).
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- 20200804_PR_ENX_VP Closing
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