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Federal Court of Australia approves scheme of arrangement under which Woolworths Holdings Ltd will acquire all of issued shares of David Jones Ltd


Wednesday, 16 Jul 2014 11:02pm EDT 

David Jones Ltd:Says that Federal Court of Australia (Court) has made orders approving scheme of arrangement under which Woolworths Holdings Ltd (through its Australian subsidiary, Vela Investments Pty Ltd), will acquire all of issued shares of David Jones (the scheme).It is expected that a copy of Court’s orders will be lodged with Australian Securities and Investments Commission on July 18, at which time scheme will become legally effective.If this occurs, David Jones' will apply for its shares to be suspended from trading at the close of trading on Australian Securities Exchange on July 18.