Equiniti acquisition by Earth Private Holdings secures FCA approval

Equiniti Group PLC (LON:EQN) today provided an update on its acquisition by Earth Private Holdings Ltd – a newly-formed company owned by funds managed or advised by Siris Capital Group, LLC.

On 27 May 2021, the boards of EQ and Bidco announced they had reached agreement on the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of EQ. It is intended that the acquisition will be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006.

As set out in the Scheme Document, the acquisition was conditional, inter alia, on the approval of the Financial Conduct Authority (FCA) to the acquisition of control over certain of EQ’s subsidiaries which will arise from the successful completion of the acquisition. EQ and Bidco today announce that approval from the FCA has now been received and this condition has therefore been satisfied.

The EQ Shareholders have already voted to approve the Scheme at the Court Meeting and passed the associated Special Resolution required to effect the Acquisition at the General Meeting.

Completion of the deal remains subject to the waiver or satisfaction of the remaining Conditions set out in paragraph 3, Part 1 of Part IV of the Scheme Document, including the approval of the New York State Department of Financial Services and the sanctioning of the Scheme by the Court at the Court Hearing, and further terms as set out in the Scheme Document.

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