IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has announced a recommended cash acquisition by Geologist Bidco Limited, a company owned by KKR funds, to be carried out through a court-sanctioned scheme of arrangement. Following the initial agreement on 14 May 2024, Charles Stanley & Co Ltd has sold portions of its IQGeo shares, reducing its intent to support the acquisition from 9.93% to approximately 5.67% of IQGeo’s share capital. The acquisition involves over half of IQGeo’s issued ordinary share capital, representing a significant change in the company’s ownership structure.
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