Euronext today announces it has entered into definitive agreements to acquire around 70 percent of the shares of VP Securities from its existing owners, the Danish Central Bank and four major Danish financial institutions, Danske Bank, Nykredit, Nordea and Jyske Bank.

VP Securities is the Danish Central Securities Depository (CSD), covering fixed income, equity and investment funds, and a key infrastructure helping to finance Denmark's real economy.

Established in 1980 and headquartered in Copenhagen, VP Securities is fully integrated into the European post-trade framework. The company was the first Nordic CSD to be granted a CSDR license and to join the European Central Bank's Target 2 Securities (T2S) settlement system. In 2019, the company generated DKK426 million of revenue and generated EBITDA of DKK125 million.

The price offered for 100 percent of the shares is DKK1.12 billion. Euronext will open an offer to all remaining shareholders, at the same terms and conditions. The transaction will be funded with existing resources. Euronext says the acquisition is in line with its disciplined capital deployment policy and commitment to maintain a strong investment grade credit rating.

The completion is expected by early Q3 2020 once regulatory approvals have been received.

Euronext says that following the acquisition of Oslo Børs VPS, completed in June 2019, and Nord Pool in January 2020, it 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.

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Euronext today announces it has entered into definitive agreements to acquire around 70 percent of the shares of VP Securities from its existing owners, the Danish Central Bank and four major Danish financial institutions, Danske Bank, Nykredit, Nordea and Jyske Bank.

VP Securities is the Danish Central Securities Depository (CSD), covering fixed income, equity and investment funds, and a key infrastructure helping to finance Denmark's real economy.

Established in 1980 and headquartered in Copenhagen, VP Securities is fully integrated into the European post-trade framework. The company was the first Nordic CSD to be granted a CSDR license and to join the European Central Bank's Target 2 Securities (T2S) settlement system. In 2019, the company generated DKK426 million of revenue and generated EBITDA of DKK125 million.

The price offered for 100 percent of the shares is DKK1.12 billion. Euronext will open an offer to all remaining shareholders, at the same terms and conditions. The transaction will be funded with existing resources. Euronext says the acquisition is in line with its disciplined capital deployment policy and commitment to maintain a strong investment grade credit rating.

The completion is expected by early Q3 2020 once regulatory approvals have been received.

Euronext says that following the acquisition of Oslo Børs VPS, completed in June 2019, and Nord Pool in January 2020, it 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.