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LONDON - The UK Secretary of State has approved Atlas Holdings’ acquisition of De La Rue plc (LSE:LON:DLAR) under the National Security and Investment Act 2021, the security printing company announced Wednesday.
This regulatory clearance satisfies a key condition for the all-cash acquisition announced on April 15, which will be implemented through a court-sanctioned scheme of arrangement. The transaction received shareholder approval on June 3.
Atlas Holdings, through its indirect wholly-owned subsidiary ACR Bidco Limited, is acquiring the entire issued and to-be-issued ordinary share capital of De La Rue, a company known for producing banknotes and security documents.
The acquisition remains subject to court sanction at a hearing and other closing conditions outlined in the scheme document published on May 9. The transaction is expected to be completed on July 2, according to the company’s statement.
Following completion, De La Rue shares will be delisted from the London Stock Exchange (LON:LSEG) and removed from the Official List, with the cancellation expected to take effect on the business day after the transaction becomes effective.
The announcement was made in a press release statement from De La Rue.
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