(Alliance News) - Xpediator PLC on Friday said its takeover by DLM Bidco Ltd has become effective, and it expects its shares to be cancelled on Monday.
This comes after the Braintree, England-based freight management services provider announced an agreement alongside DLM Bidco for the entire share capital of Xpediator, valued at GBP62.3 million, or 42 pence per share plus a special dividend of 2p per share back in April. The offer was subject to a court sanctioning, which was approved on Thursday.
DLM Bidco is a newly incorporated entity which will be owned by funds advised by BaltCap, Cogels Investments and Nuoma IR Kapitalas. BaltCap is an investor in the Baltic region, and Nuoma is a 20% shareholder of Xpediator's subsidiary Delamode Baltics UAB, as well as Delamode's managing director.
Xpediator shares were suspended from trading on AIM early on Friday morning, but with the takeover becoming effective, they will be cancelled next week.
By Sabrina Penty, Alliance News reporter
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