SAI Global Limited (ASX:SAI) (“SAI Global”) is pleased to announce that the Federal Court of Australia (the “Court”) has today made orders approving the scheme of arrangement (“Scheme”) between SAI Global and its shareholders under which Baring Asia Private Equity Fund VI (through its wholly owned subsidiary Casmar (Australia) Pty Limited) will acquire 100% of the shares in SAI Global for $4.75 per share.
SAI Global expects to lodge a copy of the Court's orders approving the Scheme with the Australian Securities and Investments Commission on Monday, 12 December 2016, at which time the Scheme will become effective.
It is expected that trading in the Company's shares on ASX will be suspended from close of trading on Monday, 12 December 2016.
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