Euronext Receives Regulatory Approval To Buy Danish CSD
Euronext, the leading pan-European exchange, today announces it has received the clearance from the Danish Financial Supervisory Authority to acquire up to 100% of VP Securities A/S1 (â€śVP Securitiesâ€ť) on 15 July 2020. Euronext welcomes this regulatory approval by the Danish FSA that was the only condition to complete the transaction.
đź‡Şđź‡şđź‡©đź‡° Danish regulator approves Euronextâ€™s acquisition of VP Securities. Euronext received strong support from existing shareholders of the company, with shareholders representing approx 91% of the total shares having already accepted Euronextâ€™s offer
— Euronext (@euronext) July 16, 2020
Euronext has already secured strong support from existing shareholders of VP Securities with shareholders representing 90.68% of the total shares2 having already accepted Euronextâ€™s offer as of today.
Euronextâ€™s tag along offer to acquire the remaining shares in VP Securities will remain open until 31 August 2020. According to the terms of the Euronextâ€™s tag along offer to the minority shareholders of VP Securities, shareholders having accepted the Euronextâ€™s offer will receive settlement on or around 3 August 2020. Any other shareholders and shareholders with specific rights, accepting Euronext offer, before 31 August 2020, which is the latest date to accept Euronextâ€™s offer, will receive payment on or around 10 September 2020.
Following such settlements, Euronext intends to initiate a compulsory acquisition procedure to acquire the remaining shares not already tendered in accordance with the rules of the Danish Companies Act.
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