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The boards of directors of VPS Holding ASA and Oslo Børs Holding ASA recommended a merger of the two companies to their respective shareholders in March this year. The Merger Plan was considered and approved by both boards on 3 May. General meetings of both companies approved the merger on 11 June. On 14 September, the companies received notice from the Norwegian Competition Authority that the Authority did not intend to intervene against the merger. The Ministry of Finance has today granted its approval of the merger on given terms.
"We are delighted that we have now got the green light from the authorities to merge VPS and Oslo Børs. By bringing together our resources and expertise, we will develop attractive, high quality products for our customers", comments Bente A. Landsnes, who will be the Group CEO of Oslo Børs VPS.
Oslo Børs and VPS will later provide further information on the terms and the completion of the merger.
The Merger Plan and the Information Memorandum for the merger are available on the Oslo Børs website at: http://www.oslobors.no/ob/ir and on the VPS website at: http://www.vps.no/pub/wps/doc/alle/genforsfiler/generalforsamlingsdokumentasjon.html
About the background for the merger
VPS and Oslo Børs each deliver reliable products and services with high, international quality standards. This is part of the reason for the securities market in Norway to have been one of the very strongest markets in Europe over recent years, and a market that is attracting ever-more international participants.
The decision by Oslo Børs and VPS to merge is intended to ensure more efficient and co-ordinated use of their overall resources and expertise, and so ensure a strong offer of products and services for their customers and the market in general, both now and for the future.
