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IOOF Holdings Ltd To Acquire Strategic Shareholding In Equity Trustees Ltd

Wednesday, 18 Sep 2013 08:04pm EDT 

IOOF Holdings Ltd and Perpetual Trustees Limited (Perpetual) announced that they have entered into a Share Sale Agreement (Agreement) whereby IOOF will acquire a strategic holding in Equity Trustees Ltd (EQT). Currently, The Trust Company Limited (Trust) holds 1,193,942 shares in EQT (approximately 13% of the total shares on issue in EQT). IOOF’s purchase of the EQT shares is conditional upon the successful implementation of the proposed Scheme of Arrangement (Scheme) under which Perpetual will acquire 100% of the shares in Trust. Following implementation of the Scheme, the EQT shares owned by Trust will be transferred to IOOF at the price of $16.50 per share. The Scheme is currently expected to be implemented in November 2013, subject to approval by Trust shareholders. 

Company Quote

-0.01 -0.11%
24 Dec 2014