OMX To Acquire Iceland Stock Exchange And CSD

OMX, the Icelandic Securities Depository (ISD) and the owner of the Iceland Stock Exchange, Eignarhaldsfelagid Verdbrefathing (EV), have signed a Letter of Intent regarding an acquisition of EV. The parties say the transaction is a step towards integrating the Nordic

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OMX, the Icelandic Securities Depository (ISD) and the owner of the Iceland Stock Exchange, Eignarhaldsfelagid Verdbrefathing (EV), have signed a Letter of Intent regarding an acquisition of EV.

The parties say the transaction is a step towards integrating the Nordic and Baltic securities markets and establishing the OMX Nordic Exchange as a leading regional European marketplace.

“The intention is to announce the signing of a formal agreement before the end of October,” says a spokesman for EV. “An offer will subsequently be submitted to the shareholders of EV, whereby the consideration to EV’s shareholders shall be approximately 2,07 million newly issued shares in OMX, corresponding to a valuation of ISK 2,450 million (SEK 250 million) excluding surplus cash and marketable securities.”

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