Becketts Bidco a consortium comprising Luxembourg-based private equity firm Astorg Asset Management and London-based private equity firm Epiris LLP, has secured all necessary regulatory approvals for its £1.6 billion acquisition of Euromoney Institutional Investor, according to a report by PE Insights.
Becketts Bidco a consortium comprising Luxembourg-based private equity firm Astorg Asset Management and London-based private equity firm Epiris LLP, has secured all necessary regulatory approvals for its $1.6 billion acquisition of Euromoney Institutional Investor, according to a report by PE Insights.
The report cites a statement made by the the London-based global business-to-business information-services company as saying that “all of the conditions relating to the regulatory and antitrust approvals have now been satisfied”.
The scheme remains subject to the waiver or satisfaction of the remaining conditions set out in the scheme document including the sanction of the scheme by the court at the court hearing, which is scheduled for 22 November.
Becketts Bidco as agreed to pay 1,461 pence per Euromoney share, a 34% premium on Euromoney’s “undisturbed” stock price of 1,094p on 17 June, the day takeover approach was confirmed.
A majority of Euromoney shareholders approved the scheme on 8 Setember.
