Euronext acknowledges the decision of the Board of Directors of Oslo Børs VPS Holding ASA (“Oslo Børs VPS”) not to recommend Euronext’s offer, even though Euronext’s offer is supported by the majority of Oslo Børs VPS shareholders.

Euronext is strongly convinced of the benefits that its combination with Oslo Børs would bring to all Norwegian stakeholders ???? https://t.co/u7mS5tepII

— Euronext (@euronext) February 4, 2019

Euronext launched on 14 January 2019 an all-cash tender offer to acquire all issued and outstanding shares of Oslo Børs VPS for NOK 6.24 billion, and had already secured support for the offer from the majority of Oslo Børs VPS shareholders representing 50.5% of the total number of outstanding shares through irrevocable binding pre-commitments to tender shares in the context of the offer, and share purchases. Euronext’s offer is subject to a 50.01% minimum acceptance condition, which is already met. Euronext, which is already regulated in Belgium, France, Ireland, the Netherlands, Portugal and the United Kingdom, is currently awaiting the Ministry of Finance’s decision of its ownership application (based on advice from the Norwegian Financial Supervisory Authority (Finanstilsynet)) in order to complete the acquisition of all shares tendered in favour of its offer.

Euronext is determined to acquire Oslo Børs VPS and remains committed to a constructive and continuous dialogue with Oslo Børs VPS shareholders, Board and management as well as the wider Norwegian ecosystem. Euronext’s Reference Shareholders have also confirmed their joint support to Euronext for this transaction. Euronext will assess available options to adjust its offer and will communicate when appropriate.

Euronext is strongly convinced of the benefits that its combination with Oslo Børs VPS would bring to all Norwegian stakeholders. It has a strong track record of pan-European and decentralised independent market infrastructure management. Euronext’s model, capitalising on local strengths, identity and vibrant markets, fuels its ambition to finance the real economy, especially SMEs, by providing them with access to the largest liquidity pool in Europe. Euronext will be fully committed to the further development of Oslo Børs VPS, both its stock exchange and the Central Securities Depository (CSD, known as ‘VPS’), through a client-centric plan benefitting all parties of the Norwegian financial ecosystem. 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.

Source: Euronext