VP Securities sold to Euronext

The Danish Central Bank (Nationalbanken), Danske Bank, Nykredit, Nordea and Jyske Bank have agreed to sell their shares in VP Securities to the pan-European exchange and market infrastructure group, Euronext. Euronext will acquire approx. 70% of the shares in VP Securities. Plesner has advised the Danish Central Bank, Danske Bank, Nykredit, Nordea, Jyske Bank, Jyske Realkredit and LR Realkredit in relation to the transaction.

VP Securities is the Danish Central Securities Depositary (CSD) with a core business of secure issuance, clearing & settlement and safekeeping of securities to facilitate the requirements of the financial industry. In 2019, the company generated DKK426m of revenue.

Euronext has offered a price of DKK1.12bn for 100% of the shares in VP Securities. The five largest shareholders have accepted the offer and will sell approx. 70% of the shares in VP Securities. Euronext will offer the remaining shareholders to purchase their shares on the same terms and conditions.

The acquisition of VP Securities strengthens Euronext's position in the Nordic region. As part of the Euronext group, VP Securities will be able to ensure harmonised and competitive securities management services in Denmark.

The transaction is subject to the Danish Financial Supervisory Authority's approval and the transaction is expected to be completed by early Q3 2020.

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