June 6, 2019 / 10:41 AM / a year ago

Norway's DNB and KLP agree to sell stakes in Oslo Bors to Euronext

OSLO, June 6 (Reuters) - Norway's DNB and KLP said on Thursday they had agreed to sell their stakes in Norwegian stock exchange Oslo Bors to pan-European exchange operator Euronext.

Those stakes take Euronext's holding in Oslo Bors to more than 90% and means Euronext can delist it if it wishes.

Euronext had said it would delist Oslo Bors if it secured more than 90% of its shares. A Euronext spokeswoman on Thursday declined to comment.

"We think the best solution for Oslo Bors now is that Euronext as an owner can lead the company as it wishes," KLP CEO Sverre Thornes said in a statement.

KLP had a 10% stake in Oslo Bors. DNB's stake was 19.8%.

Paris-listed Euronext won a five-month-long bidding battle versus U.S operator Nasdaq for Oslo Bors.

Euronext offered 158 Norwegian crowns per share for Oslo Bors, valuing it at around 6.8 billion crowns ($780 million).

$1 = 8.7181 Norwegian crowns Reporting by Nerijus Adomaitis and Gwladys Fouche; editing by Jason Neely

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