Earlier today, the pan-European exchange group Euronext announced that it has entered into a binding agreement to acquire 66% of the share capital and voting rights of Nord Pool Holding AS (the Nord Pool group).
Euronext will enter into a partnership with the current owners of Nord Pool, the Nordic and Baltic Transmission System Operators (TSOs), governed by a Shareholders’ Agreement. The TSOs will retain a 34% ownership through a joint holding company.
Kari Ekelund Thørud, CEO of Nord Pool, said: “I am excited to see Euronext – a strong technology-driven, European company – become the new majority owner of Nord Pool, joining the Nordic and Baltic TSOs as a shareholder. With a solid European footprint, ambitious Nordic expansion plans and deep exchange technology know-how, Euronext is an ideal partner for us, complementing the strengths of the Nord Pool organisation.
At Nord Pool we continuously adapt to evolving market demands and strive to deliver simple, efficient and secure power trading to our customers. I am sure both customers and partners will see positive results from Nord Pool becoming a part of the Euronext family. The transaction will not change the fundamentals of the power markets where Nord Pool operates – we will continue to deliver transparency and integrity to the benefit of all market participants.”
The transaction is subject to regulatory and competition approvals and is expected to be completed in Q1 of 2020. Skandinaviska Enskilda Banken AB (publ) acted as financial advisor to the selling shareholders, the Nordic and Baltic TSOs, in this transaction.
About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 360 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany, France, the Netherlands, Belgium, Austria and the UK. Nord Pool is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Croatia and Bulgaria. In 2018 Nord Pool had a total turnover of 524 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Nord Pool has 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.
Oslo, 5 December 2019
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