IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has agreed to a cash acquisition by Geologist Bidco Limited, a company owned by KKR funds, with the transaction to be carried out through a court-sanctioned scheme of arrangement. Charles Stanley & Co Ltd, which initially supported the acquisition with a non-binding letter of intent for approximately 9.93% of IQGeo’s shares, has since sold a portion, reducing their commitment to about 7.55% of the shares. The acquisition is now backed by commitments representing approximately 55.83% of IQGeo’s issued ordinary share capital as of the last business day before the announcement.
For further insights into GB:IQG stock, check out TipRanks’ Stock Analysis page.
