February 28, 2018 / 1:39 AM / 9 months ago

BRIEF-Student Transportation To Be Acquired By Group Of Investors Led By CDPQ

Feb 27 (Reuters) - Student Transportation Inc:

* TO BE ACQUIRED BY A GROUP OF INVESTORS LED BY CDPQ

* ‍SHAREHOLDERS OF STI WILL RECEIVE US$7.50 PER COMMON SHARE IN CASH​

* ‍TERMINATION PAYMENT OF US$28.4 MILLION WILL BE PAYABLE BY STI TO PURCHASER GROUP SHOULD DEAL NOT CLOSE IN SOME CIRCUMSTANCES​

* ‍PART OF CONSIDERATION IS TO BE FUNDED WITH EQUITY COMMITMENTS FROM PURCHASER GROUP​

* ‍REMAINDER OF CONSIDERATION WILL BE FUNDED WITH COMMITTED DEBT FINANCING BY BMO CAPITAL MARKETS​

* ‍BOARD OF STI HAS UNANIMOUSLY APPROVED ARRANGEMEN​T Source text for Eikon: Further company coverage:

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