press center press release

OMX sells all shares in VPC


OMX sells all shares in VPC OMX sells all its shares in VPC AB (VPC), totaling 443 700 shares for a consideration of SEK 575 million. OMX´s result from this divestment is estimated to approximately SEK 80 million. VPC has a license to use OMXs system for clearing and settlement, however, the joint development project regarding a Nordic CSD platform will be discontinued. OMX and VPC share the same vision of an integrated Nordic securities market and we are both fully dedicated to improve the efficiency of the Nordic financial market. When we discontinue our joint development project and sell our shares in VPC, OMXs role in the Nordic financial market will be focused on developing the OMX Nordic Exchange, said Magnus Böcker, CEO of OMX. OMXs result from this divestment is to be recognized as other income during the fourth quarter of 2006. OMX estimates that the discontinued development project will have marginal effects on OMXs profitability. VPC acquired the Finnish Clearing and Settlement operation APK from OMX in 2004 whereby OMX became a major shareholder in VPC. Prior to todays transaction, OMX, Handelsbanken Nordea, SEB and Swedbank held 19.78 percent each in VPC. After the acquisition of OMXs shares the four remaining major shareholders will hold slightly less than 25 percent each of the shares in VPC Group. OMX provides technology to over 15 clearing, settlement and depository organizations around the world. Lenner & Partners is financial advisor to OMX and Erneholm & Haskel is financial advisor to VPC. For more information, please contact: Niclas Lilja, Media Relations, OMX +46 8 405 63 95 About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations, central securities depositories and other financial institutions around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information, please visit PDF

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more