IQGeo Group PLC (GB:IQG) has released an update.
IQGeo Group PLC is set to be acquired by Geologist Bidco Limited, a company backed by investment firm KKR, in a cash transaction structured as a Court-sanctioned scheme of arrangement. Following the initial acquisition announcement on May 14, 2024, shareholder Charles Stanley & Co Ltd has sold a portion of its shares, reducing its commitment to support the deal from 9.93% to 7.59% of IQGeo’s issued share capital. Nevertheless, the acquisition still retains significant backing with approximately 55.88% of the company’s issued ordinary share capital committed to the deal.
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