Nasdaq CSD SE has completed a cross-border merger with Nasdaq CSD Iceland hf. Nasdaq CSD is headquartered in Latvia and also provides central securities depositary services in Lithuania and Estonia. With this transaction, it has consolidated Baltic and Icelandic CSD services under one company, thus achieving higher efficiency and greater competitiveness. After the merger Nasdaq CSD SE will operate in Iceland via a branch. We advised Nasdaq CSD SE on regulatory and corporate law aspects of the transaction.
This transaction comes after Nasdaq CSD in 2017 became the first securities depositary in Europe to be fully licensed under the EU’s Central Securities Depositaries Regulation. We also provided legal support on that remarkable achievement.
The Sorainen team consisted of partner Rūdolfs Eņģelis with senior associate Zane Paeglīte and counsel Mārtiņš Rudzītis.