24th Apr 2023 20:31
(Alliance News) - Dignity PLC's suitors will move to cancel the funeral services provider's London listing as a takeover bid is now unconditional.
Valderrama Ltd, jointly-owned by SPWOne V Ltd, Castelnau Group Ltd and Phoenix Asset Management Partners Ltd, has acquired or agreed to acquire 75% worth of shares in Dignity.
Dignity in January agreed to a takeover which values the company at GBP281 million, with an implied enterprise value of around GBP789 million.
Dignity shares are expected to be cancelled from trading on May 25.
Shares in the company closed 0.1% lower at 549.61 pence each in London on Monday, giving it a market capitalisation of GBP275.5 million.
By Eric Cunha, Alliance News news editor
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