IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC has agreed to a recommended cash acquisition by Geologist Bidco Limited, a company fully owned by KKR funds, through a court-sanctioned scheme of arrangement. Charles Stanley & Co Ltd has reduced its commitment to back the acquisition, now supporting it with approximately 7.58% of IQGeo’s issued share capital, down from 9.93%. This move follows Charles Stanley’s recent sales of shares previously subject to a letter of intent to vote in favor of the deal.
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