Today, Nasdaq OMX Group (NASDAQ:NDAQ) announced the completion of its acquisition of the Central Securities Depository of Lithuania (CSDL), whereby Nasdaq OMX Helsinki Oy purchased the remaining 60 percent of the shares of the CSDL from the Bank of Lithuania.
After this acquisition, the NASDAQ OMX Group owns 100 percent of the CSDL. Before the completion of the acquisition, the NASDAQ OMX Group owned 32% of the CSDL through NASDAQ OMX Helsinki Oy, and 8% through NASDAQ OMX Vilnius where NASDAQ OMX owns 96%.
"We are happy to have won the public tender for the sale of the CSDL shares and have closed the deal with the Bank of Lithuania. NASDAQ OMX owns a stock exchange in Lithuania and exchanges and central depositories in Latvia and Estonia. Therefore, acquiring the remaining stake in the Central Securities Depository of Lithuania was a natural step in providing an integrated and cost efficient offer of high quality trading and post-trading services to companies traded on Baltic exchanges and investors trading in Baltic countries." said Hans-Ole Jochumsen, President of NASDAQ OMX Nordic.
The CSDL plays an important role in the Lithuanian financial market by being a central registrar of shares and other securities issued by public companies registered in Lithuania and the Lithuanian government. The CSDL is also responsible for clearing and settlement of trades in financial instruments concluded on and outside the stock exchange.
"Examples in Latvia and Estonia show that in smaller markets consolidation of ownership of stock exchanges and depositories creates valuable synergies also for the market participants. This is our goal in Lithuania," said Arminta Saladziene, Head of NASDAQ OMX Baltic Market.