26th Jun 2020 18:45
(Alliance News) - Ingredion Inc on Friday said the Supreme Court of Bermuda has made an order sanctioning the acquisition of PureCircle Ltd by Ingredion SRSS Holdings Ltd.
The last day of PureCircle's trading in London is expected to be Tuesday next week, with shares to be suspended on Wednesday next week. The day after, the shares will be cancelled.
Back in April, the stevia sweetener producer agreed a GBP185.3 million takeover offer from US-based food ingredients maker.
Under the terms of the acquisition, PureCircle shareholders will receive 100 pence in cash for each PureCircle share or will be able to receive shares in SRSS Holdings Ltd, a UK company formed by Westchester, Illinois-based starch producer Ingredion.
PureCircle investors opting for the share alternative will get one SRSS share for each PureCircle share held.
Following the completion of the deal, Ingredion will own 75% of SRSS, while minority PurcCircle shareholders electing for the share alternative will own 25%.
PureCircle shares closed 0.2% lower in London on Friday at 96.40 pence each.
By Evelina Grecenko; [email protected]
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