IQGeo Group PLC (GB:IQG) has released an update.
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IQGeo Group PLC has announced a recommended cash acquisition by Geologist Bidco Limited, a company owned by funds advised by KKR. A non-binding letter of intent from Charles Stanley & Co Ltd originally supporting the acquisition has been partially withdrawn following the sale of shares, reducing their support from approximately 9.93% to 5.68% of IQGeo’s issued share capital. The acquisition is to be executed via a Court-sanctioned scheme of arrangement as per the Companies Act 2006.
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