Pension provider KLP has accepted Euronext’s bid for Oslo Børs VPS, after the stock market operator was authorised by the Norwegian government.
The Ministry of Finance recently authorised Euronext to take a 100 per cent stake in Oslo Børs VPS, the company which runs the Oslo Stock Exchange. In light of this, KLP has decided to sell its 10 per cent interest.
In a statement, the pensions giant noted that the Dutch-French operator should take sole control over the running of the company.
KLP CEO Sverre Thornes said: “We believe the best solution for the Oslo Stock Exchange right now is for Euronext, as the owner, to be allowed to run the company as they see fit.
“We have therefore decided to sell our shares with the assurance that Euronext will keep its promises to further develop the Oslo Stock Exchange and VPS and ensure that the exchange will continue to be an attractive marketplace for small and medium-sized enterprises.”
Euronext is acquiring KLP’s interest in Oslo Børs VPS for NOK 158 per share, in addition to a fixed interest payment of NOK 3.21 per share.
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