Euronext NV is looking to acquire Oslo Børs VPS Holding ASA and units for €625 million in cash as part of its drive to diversify from share trading.

The offer for the Norwegian Stock Exchange and national CSD operator is subject to customary conditions, due diligence and other approvals.

Euronext was specially interested in Oslo Børs' position in seafood derivatives, oil services and shipping.

The group said it would launch as soon as practical a 6.24 billion Norwegian kroner offer to buy Oslo Børs VPS at 145 Norwegian kroner per share, a 32% premium on Oslo Børs VPS's closing price Dec. 17 and 34% on Oslo Børs VPS' three-month volume-weighted average share price.

Euronext had received Oslo Børs VPS shareholders' support for its offer for the 49.6% of outstanding shares. It is not certain that the deal will be completed, Euronext said.

As of Dec. 21, US$1 was equivalent to 8.72 Norwegian kroner.