Pan-European exchange Euronext announced it secured clearance from the Danish Financial Supervisory Authority to acquire up to 100% of VP Securities A/S1 (“VP Securities”) on 15 July 2020. The approval by the Danish FSA was the only condition left to complete the transaction.
Shareholder vote in VP Securities already showed support for the acquisition with shareholders representing 90.7% of the total shares.
Euronext’s offer to acquire VP Securities’ remaining shares will remain open until 31 August. The tag along offer made to the minority shareholders of VP Securities mandates that the shareholders having accepted the Euronext’s offer will receive settlement on or around 3 August. Other shareholders with specific rights who accept the offer before 31 August will receive payment around 10 September.
Following the acquisition of the agreed upon shares, Euronext plans to initiate a compulsory acquisition procedure to acquire the remaining shares not already tendered in accordance with the rules of the Danish Companies Act.
Earlier this month, Euronext FX reported trading volumes increase by 18% MoM for June. The total cash market reached EUR 244,406.7 in June, 34.5% MoM increase compared to EUR 181,728.3 in May. ADV cash market reached 11,109.4 up by 22.3% compared to May.
In June, the pan-European exchange announced the launch of a new suite of ESG products, services and initiatives, designed to empower sustainable growth. The launch is a important step in Euronext’s three-year strategic plan, “Let’s Grow Together 2022”.
Euronext teamed up with Vigeo Eiris Moody’s in the design of the Euronext Eurozone ESG Large 80 index, which tracks the Eurozone’s 80 best-performing Large Cap companies with strong performance on social and governance criteria and leading the transition to a low carbon economy. This new ESG index responds to investors’ need for a public climate action benchmark in the Eurozone.
