(Alliance News) - Go-Ahead on Monday requested for its shares to be suspended from trading in London, as its takeover by a consortium of Kinetic TCo Pty Ltd and Globalvia Inversiones SAU has become effective.
This follows the delivery of a copy of last Thursday's order from the High Court of Justice in England & Wales.
Go-Ahead is a Newcastle-based public transport operator. Its new owners are Australia-based bus company Kinetic and Madrid-based transport infrastructure firm Globalvia.
Go-Ahead expects to de-list from the London Main Market on Tuesday morning.
Back in June, Kinetic and Globalvia agreed to buy Go-Ahead for 1,500 pence per share including a 50p per share dividend.
This was then increased in August to 1,550p per share including a 100p dividend. The scheme, valuing Go-Ahead at GBP669 million, secured the backing of Go-Ahead's shareholders and it was this scheme that was sanctioned by the UK High Court.
By Tom Budszus; tombudszus@alliancenews.com
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