Biffa is pleased to announced that the Scheme has now become effective in accordance with its terms
Biffa
The company announced this morning that the acquisition was completed today in accordance with terms agreed on February 8 (see letsrecycle.com story).
The listing of Biffa Shares on the Official List will now be cancelled, and Biffa Shares will cease to be admitted to trading on the London Stock Exchange's main market for listed securities, with effect from 8.00 a.m. tomorrow (8 April 2008).
Holders of Biffa Shares will be entitled to receive 350 pence for each Biffa Share they held at the scheme record time on 3 April 2008.
Settlement of the cash consideration will be effected on 21 April 2008.
The company said today: “Biffa is pleased to announced that the Scheme has now become effective in accordance with its terms.”
WasteAcquisitionco Limited is a consortium of private equity groups including the former owner of waste firm Cory Environmental, Montagu. The other partners are Global Infrastructure partners (GIP) and the Royal Bank of Scotland (RBS).
A spokesman told letsrecycle.com today that no decisions had yet been made as to what the acquisition would mean for Biffa and that more information would be released in due course.
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