(Alliance News) - K3 Capital Group PLC on Tuesday said that its acquisition by Shin Bidco Ltd via a scheme of arrangement has now become effective, following the delivery of a copy of the scheme court order.
K3 Capital is a Bolton, England-based professional advisory services firm, focused on mergers & acquisitions, tax and restructuring.
In December, K3 Capital confirmed it received a takeover offer of 350 pence per share in cash from Shin Bidco, valuing K3 at GBP271.7 million. Shin Bidco is controlled by affiliates of Sun European Partners LLP.
The scheme is now effective, and accordingly, Bidco is the owner of all scheme shares.
As per the arrangement, the K3 shares were suspended from trading on AIM with effect from Tuesday. An application has been made to the London Stock Exchange for the cancellation of the admission to trading of K3 Shares on AIM, which is expected to take effect on Wednesday.
By Holly Beveridge; Alliance News reporter
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