Euronext Submits Public Offer for Athens Stock Exchange
Euronext N.V. has announced its intention to acquire all shares of EXAE through a voluntary public exchange offer, offering 0.050 new Euronext shares for each EXAE share.
The proposal values EXAE at approximately ā¬425.9 million, based on the weighted average price of Euronext shares on July 29. The Board of Directors of EXAE unanimously supports the proposal, recognizing its strategic and economic benefits.
The agreement stipulates that EXAE will maintain its headquarters in Greece and operate as a regional hub of the Euronext Group in Southeastern Europe. The public offer includes a 19% premium compared to the closing price of EXAE shares on June 30.
EXAE CEO Yannos Kontopoulos and other BoD members holding shares have agreed to offer them, subject to a positive opinion being issued.
Euronext is committed to supporting EXAE's role as a national stock exchange and is considering creating a new technology center in Greece.