OTTAWA (Alliance News) - Caracal Energy Inc. said Glencore PLC has received Investment Canada Act approval in connection with the plan of arrangement to effect the acquisition of all issued and outstanding common shares of Caracal by a wholly owned subsidiary of Glencore.
Investment Canada Act approval was the final outstanding regulatory approval with respect to the arrangement.
Accordingly, Caracal now expects the effective date of the arrangement to be July 8.
On the effective date, Glencore will release the funds to be subsequently paid to shareholders and holders of depositary interests.
Copyright RTT News/dpa-AFX
Glencore (GLEN)
Corcel (CRCL)
