CANBERA (dpa-AFX) - Insignia Financial Ltd. (IOOFF, IFL.AX), on Thursday announced that the Federal Court of Australia has approved the proposed acquisition of its shares by Daintree BidCo Pty Ltd.
The scheme implementation is expected on April 28.
Daintree BidCo Pty Ltd was established by CC Capital Partners LLC and its affiliates by a scheme of arrangements.
Insignia Financial expects to lodge the Court orders with the Australian Securities and Investments Commission on Friday, April 17, at which time the Scheme becomes legally effective.
Following the court approval, the company will request suspension of its share quotation on the ASX from the close of trading on Friday, April 17.
The financial shareholders at 5:00 pm Melbourne time on April 21, designated as the Record Date, will receive $4.80 cash per share held at that date.
Insignia Financial closed trading at AUD 4.7900 on the Australian Securities Exchange.
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